Working Papers

From Banco de España
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2028: The spatial distribution of population in Spain: an anomaly in european perspective

Eduardo Gutiérrez Chacón, Enrique Moral-Benito, Roberto Ramos and Daniel Oto-Peralías

2027: Can news help measure economic sentiment? An application in COVID-19 times

Pablo Aguilar, Corinna Ghirelli, Matías Pacce and Alberto Urtasun

2026: Spanish regions in Global Value Chains: How important? How different?

Elvira Prades-Illanes and Patrocinio Tello-Casas

2025: The decline in public investment: “social dominance” or too-rigid fiscal rules?

Mar Delgado-Téllez, Esther Gordo, Iván Kataryniuk and Javier Pérez

2024: Economic policy uncertainty in Latin America: measurement using Spanish newspapers and economic spillovers

Corinna Ghirelli, Javier Pérez and Alberto Urtasun

2023: A highway across the Atlantic? Trade and welfare effects of the EU-Mercosur agreement

Jacopo Timini and Francesca Viani

2022: Can subsidized employment tackle long-term unemployment? Experimental evidence from North Macedonia

Alex Armand, Pedro Carneiro, Federico Tagliati and Yiming Xia

2021: The impact of alternative forms of bank consolidation on credit supply and financial stability

Sergio Mayordomo, Nicola Pavanini and Emanuele Tarantino

2020: Loan types and the bank lending channel

Victoria Ivashina, Luc Laeven and Enrique Moral-Benito

2019: Keeping track of global trade in real time

Jaime Martinez-Martin and Elena Rusticelli

2018: Macro-financial interactions in a changing world

Eddie Gerba and Danilo Leiva-Leon

2017: The heterogeneous effects of trade agreements with labor provisions (Updated March 2021)

Jacopo Timini, Nicola Cortinovis and Fernando López Vicente

2016: Deciphering the macroeconomic effects of internal devaluations in a monetary union

Javier Andrés, Óscar Arce, Samuel Hurtado and Jesus Fernandez-Villaverde

2015: Real-time weakness of the global economy: a first assessment of the coronavirus crisis

Danilo Leiva-Leon, Gabriel Perez-Quiros and Eyno Rots

2014: Hedger of last resort: evidence from Brazilian FX interventions, local credit, and global financial cycles

Rodrigo Gonzalez, Dmitry Khametshin, Jose-Luis Peydro and Andrea Polo

2013: Financial frictions and the wealth distribution

Jesus Fernandez-Villaverde, Samuel Hurtado and Galo Nuño Barrau

2012: External imbalances and recoveries

Mariam Camarero, María Dolores Gadea-Rivas, Ana Gómez-Loscos and Cecilio Tamarit

2011e: Sentiment analysis of the Spanish Financial Stability Report

Ángel Iván Moreno Bernal and Carlos González Pedraz

2011: Análisis de sentimiento del Informe de Estabilidad Financiera

Ángel Iván Moreno Bernal and Carlos González Pedraz

2010: Eurozone prices: a tale of convergence and divergence

Alfredo Garcia-Hiernaux, Maria T. Gonzalez-Perez and David Guerrero

2009: Trade Agreements and Latin American trade (creation and diversion) and welfare

Ayman El Dahrawy Sánchez-Albornoz and Jacopo Timini

2008: Foreign direct investment and the equity home bias puzzle

Sven Blank, Mathias Hoffmann and Moritz Roth

2007: The benefits are at the tail: uncovering the impact of macroprudential policy on growth-at-risk

Jorge Galan

2006: Strategic interactions and price dynamics in the global oil market

Irma Alonso Alvarez, Virginia Di Nino and Fabrizio Venditti

2005: Dollar borrowing, firm-characteristics, and FX-hedged funding opportunities

Leonardo Gambacorta, Sergio Mayordomo and Jose Maria Serena Garralda

2004: From secular stagnation to robocalypse? Implications of demographic and technological changes

Henrique Basso and Juan F Jimeno

2003: Measuring the procyclicality of impairment accounting regimes: a comparison between IFRS 9 and US GAAP

Alejandro Buesa, Francisco Javier Población García and Javier Tarancón

2002: ¿Cómo afecta la complejidad de la regulación a la demografía empresarial? Evidencia para España

Juan Mora-Sanguinetti and Ricardo Pérez-Valls

2001: Debt sustainability and fiscal space in a heterogeneous Monetary Union: normal times vs the zero lower bound

Javier Andrés, Pablo Burriel and Wenyi Shen

1948: Bayesian VAR forecasts, survey information and structural change in the euro area

Gergely Ganics and Florens Odendahl

1947: From fixed-event to fixed-horizon density forecasts: obtaining measures of multi-horizon uncertainty from survey density forecasts

Gergely Ganics, Barbara Rossi and Tatevik Sekhposyan

1946: The SHERLOC: an EWS-based index of vulnerability for emerging economies

Irma Alonso Alvarez and Luis Molina Sánchez

1945: The gender gap in bank credit access

Pablo de Andrés, Ricardo Gimeno and Ruth Mateos de Cabo

1944: Dynamic effects of persistent shocks

Mario Alloza, Jesus Gonzalo and Carlos Sanz

1943: Taxation and the life cycle of firms

Andres Erosa and Beatriz González

1942: The global financial cycle and us monetary policy in an interconnected world

Stephane Dees and Alessandro Galesi

1941: Modelling regional housing prices in Spain

Laura Álvarez Román and Miguel Garcia-Posada

1940: Heterogeneous spillovers of housing credit policy

Myroslav Pidkuyko

1939: Outsourcing and public expenditure: an aggregate perspective with regional data

Mar Delgado-Téllez, Enrique Moral-Benito and Javier Pérez

1938: International bank lending channel of monetary policy

Silvia Albrizio, Sangyup Choi, Davide Furceri and Chansik Yoon

1937: Economic growth, institutional quality and financial development in middle-income countries

Laura Heras Recuero and Roberto Pascual González

1936: External adjustment with a common currency: the case of the euro area

Alberto Fuertes

1935: Child labor under cash and in-kind transfers: evidence from rural Mexico

Federico Tagliati

1934: Exchange rate shocks and inflation comovement in the euro area

Danilo Leiva-Leon, Eva Ortega and Jaime Martinez-Martin

1933: Domestic and foreign investment in advanced economies. The role of industry integration

Teresa Sastre and Laura Heras Recuero

1932: Staying dry on Spanish wine: the rejection of the 1905 Spanish-Italian trade agreement (Updated May 2020)

Jacopo Timini

1931: Beyond the LTV ratio: new macroprudential lessons from Spain

Jorge Galan and Matías Lamas

1930: Mapping China’s time-varying house price landscape

Michael Funke, Danilo Leiva-Leon and Andrew Tsang

1929: On financial frictions and firm market power

Miguel Casares, Luca Deidda and José E. Galdón-Sánchez

1928: Propagation of sector-specific shocks within spain and other countries

Mario Izquierdo, Enrique Moral-Benito and Elvira Prades