Working Papers

From Banco de España
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Bibliographic data for series maintained by Ángel Rodríguez. Electronic Dissemination of Information Unit. Research Department. Banco de España ().

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2144: Do analysts forecast differently in periods of uncertainty? An empirical analysis of target prices for Spanish banks

Roberto Pascual

2143: Measuring TFP: The role of profits, adjustment costs, and capacity utilization

Diego Comin, Javier Quintana González, Tom Schmitz and Antonella Trigari

2142: Inflation tolerance ranges in the new keynesian model

Hervé Le Bihan, Magali Marx and Julien Matheron

2141: Brexit: Cyclical dependence in market neutral hedge funds

Julio A. Crego and Julio Gálvez

2140: Brexit: Trade diversion due to trade policy uncertainty

Eduardo Gutiérrez Chacón, Aitor Lacuesta and Cesar Martin Machuca

2139: An automatic algorithm to date the reference cycle of the Spanish economy

Maximo Camacho, María Dolores Gadea and Ana Gómez Loscos

2138: Do inflation expectations improve model-based inflation Forecasts?

Marta Banbura, Danilo Leiva-Leon and Jan-Oliver Menz

2137: Optimal Monetary Policy with the Risk-Taking Channel

Angela Abbate and Dominik Thaler

2136: Income Risk Inequality: Evidence from Spanish Administrative Records

Manuel Arellano, Stéphane Bonhomme, Micole De Vera, Laura Hospido and Siqi Wei

2135: House prices and misallocation: The impact of the collateral channel on productivity

Sergi Basco, David López-Rodríguez and Enrique Moral-Benito

2134: Tracking weekly state-level economic conditions

Christiane Baumeister, Danilo Leiva-Leon and Eric Sims

2133: Does political polarization affect economic expectations?: Evidence from three decades of cabinet shifts in Europe

Luis Guirola

2132: Business complexity and geographic expansion in banking

Isabel Argimon and Maria Rodriguez-Moreno

2131: Asset encumbrance and bank risk: theory and first evidence from public disclosures in Europe

Albert Banal-Estañol, Enrique Benito, Dmitry Khametshin and Jianxing Wei

2130: Sectorial holdings and stock prices: the household-bank nexus

Matías Lamas and David Martínez-Miera

2129: Rates of SARS-COV-2 transmission and vaccination impact the fate of vaccine-resistant strains

Simón A. Rella, Yuliya Kulikova, Emmanouil T. Dermitzakis and Fyodor A. Kondrashov

2128: Lessons from estimating the average option-implied volatility term structure for the Spanish banking sector

Maria T. Gonzalez-Perez

2127: The impact of heterogeneous unconventional monetary policies on the expectations of market crashes

Irma Alonso Alvarez, Pedro Serrano and Antoni Vaello-Sebastià

2126: The causal impact of removing children from abusive and neglectful homes

Anthony Bald, Eric Chyn, Justine Hastings and Margarita Machelett

2125: ECB euro liquidity lines

Silvia Albrizio, Iván Kataryniuk, Luis Molina Sánchez and Jan Schäfer

2124: The impact of COVID-19 on analysts’ sentiment about the banking sector

Alicia Aguilar and Diego José Torres

2123: Awareness of pandemics and the impact of COVID-19

Alejandro Buesa, Javier Pérez and Daniel Santabárbara

2122: Revisiting the 'Cobden-Chevalier network' trade and welfare effects

Jacopo Timini

2121: The effect of tariffs on Spanish goods exports

Eduardo Gutiérrez Chacón and Cesar Martin Machuca

2120: Firm-level heterogeneity in the impact of the COVID-19 pandemic

Alejandro Fernández-Cerezo, Beatriz González, Mario Izquierdo and Enrique Moral-Benito

2119: Recycling carbon tax revenues in Spain. Environmental and economic assessment of selected green reforms

Angel Estrada and Daniel Santabárbara

2118: Democracy, technocracy and economic growth: evidence from 20 century Spain

Alessandro Melcarne, Juan Mora-Sanguinetti and Rok Spruk

2117: Structural gravity and trade agreements: does the measurement of domestic trade matter?

Rodolfo Campos, Jacopo Timini and Elena Vidal

2116: Marginal tax changes with risky investment

Patrick Macnamara, Myroslav Pidkuyko and Raffaele Rossi

2115: Import competition, regional divergence, and the rise of the skilled city

Javier Quintana González

2114: Unequal trade, unequal gains: the heterogeneous impact of MERCOSUR

Rodolfo Campos and Jacopo Timini

2113: Does the added worker effect matter?

Nezih Guner, Yuliya Kulikova and Arnau Valladares-Esteban

2112: Price setting in Chile: Micro evidence from consumer on-line prices during the social outbreak and Covid-19

Jennifer Peña and Elvira Prades

2111: Time variation in lifecycle consumption and income

Yunus Aksoy, Henrique Basso and Carolyn St Aubyn

2110: Fed communication on financial stability concerns and monetary policy decisions: revelations from speeches

Klodiana Istrefi, Florens Odendahl and Giulia Sestieri

2109: Weather, mobility and the evolution of the Covid-19 pandemic

Corinna Ghirelli, Andrea González, José Luis Herrera and Samuel Hurtado

2108: Endogenous time variation in vector autoregressions

Danilo Leiva-Leon and Luis Uzeda

2107: New dimensions of regulatory complexity and their economic cost. An analysis using text mining

Juan de Lucio and Juan Mora-Sanguinetti

2106: Market polarization and the phillips curve

Javier Andrés, Óscar Arce and Pablo Burriel

2105: Understanding the performance of machine learning models to predict credit default: a novel approach for supervisory evaluation

Andres Alonso and José Manuel Carbó

2104: Are we moving towards an energy-efficient low-carbon economy? An input-output LMDI decomposition of CO2 emissions for Spain and the EU28

Darío Serrano-Puente

2103: EMU deepening and sovereign debt spreads: using political space to achieve policy space

Iván Kataryniuk, Víctor Mora-Bajén and Javier Pérez

2102: Economic uncertainty and divisive politics: evidence from the dos Españas

Sandra García-Uribe, Hannes Mueller and Carlos Sanz

2101: Optimal progressivity of personal income tax: a general equilibrium evaluation for Spain

Darío Serrano-Puente

2043: Reforming the individual income tax in Spain

Nezih Guner, Javier López-Segovia and Roberto Ramos

2042: The narrative about the economy as a shadow forecast: an analysis using Banco de España quarterly reports

Nélida Díaz Sobrino, Corinna Ghirelli, Samuel Hurtado, Javier Pérez and Alberto Urtasun

2041: Urban air pollution and sick leaves: evidence from social security data

Felix Holub, Laura Hospido and Ulrich Wagner

2040: Who Truly Bears (Bank) Taxes? Evidence from Only Shifting Statutory Incidence

Gabriel Jimenez, David Martinez-Miera and Jose-Luis Peydro

2039: The short- and long-run employment impact of COVID-19 through the effects of real and financial shocks on new firms

Christoph Albert, Andrea Caggese and Beatriz González

2038: Why cognitive test scores of spanish adults are so low? the role of schooling and socioeconomic background

Brindusa Anghel, Pilar Cuadrado and Federico Tagliati