Publications

The analysis of the Spanish Economy

The purpose of this book is to summarise and publish the analytical methods currently used by the Directorate General Economics, Statistics and Research of Banco de España to assess the economic and financial situation of the Spanish economy and its future outlook. It aims to enhance the transparency of the techniques used and their practical applications, and to provide analysts with information relevant to their work.

Published and distributed by Banco de España.

Full Document  (2 MB)

Contents

• Foreword
  Luis Ángel Rojo
• General Framework
  • Analysis of the Spanish Economy from Banco de España's Perspective
    José Luis Malo de Molina
  • Impact of EMU Integration and the New International Context
    Juan Peñalosa and Fernando Restoy
  • Basic Features of the Spanish Economy
    Julio Segura
• Analytical Elements
  • Statistical Information for Analysis of the Spanish Economy
    Rafael Álvarez and José María Bonilla
  • Economic Modelling and Forecasting Tools
    Ángel Estrada and Javier Vallés
• Macroeconomic Policy Framework
  • The Monetary Transmission Mechanism
    Ignacio Hernando and Jorge Martínez
  • Monetary and Financial Conditions
    Roberto Blanco and Alberto Cabrero
  • Fiscal Policy: Stabilisation, Sustainability and Growth
    José Manuel González-Páramo
  • Fiscal Policy Analysis
    Pablo Hernández de Cos and Eloísa Ortega
• Operation of the Spanish Economy
  • The International Environment and External Demand
    José María Bonilla and Ana Buisán
  • Demand Decisions by Households and Firms
    Pilar L'Hotellerie-Fallois and Teresa Sastre
  • Output and the Labour Market
    Ángel Estrada and Mario Izquierdo
  • Price Dynamics
    Luis Julian Álvarez and Pablo Burriel
  • Financial Decisions in the Private Sector
    Juan Ayuso and Ana del Río
  • Comparative Analysis: Real Convergence, Cyclical Synchrony, and Inflation Differentials
    J. David López-Salido and Gabriel Pérez Quirós
• Structural Aspects of the Spanish Economy
  • Productivity, Factor Use and Potential Growth
    J. David López-Salido, Soledad Núñez and Sergio Puente
  • Competitiveness Analysis
    Soledad Bravo and Esther Gordo
  • Microeconomic Policies
    Mª de los Llanos Matea and Eloísa Ortega
  • The Financial System
    Roberto Blanco and Víctor García-Vaquero
• Annexes
  • Notes on Statistical Sources
    Rafael Álvarez
  • Selection of Tables and Accounts in Connection with Aggregates Projected in Forecasting Exercises