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Economic Research Portal

Welcome to the Economic Research Portal at the Banco de España

This website offers information and updates about economic research activities at the Banco de España (Bank of Spain). This research aims to provide high-quality economic analysis to support the Banco de España in its role as Spain's central bank and as a member of the Eurosystem. It includes the regular monitoring of the Spanish, Euro-zone and world economies; the evaluation of relevant economic policies; financial regulation and supervision; and the compilation of statistics. It also aims to advance economic knowledge in areas of interest for central banking.

In the past, research at the Banco de España was mostly conducted in the Directorate General - Economics, Statistics and Research (DG Servicio de Estudios). More recently, other units of the Banco de España have also begun to contribute to research, and to providing information, services, and ideas to the whole professional community, according to their areas of responsibility.

More information about research activities in each department of the Banco de España >

Publication updates

Is a Calvo price setting model consistent with individual price data?

B.E. Journal of Macroeconomics (Advances) Vol. 10, Iss. 1, April 2010.
Luis J. Alvarez (Banco de España),
Pablo Burriel (Banco de España).

The incidence of nominal and real wage rigidity: an individual-based sectoral approach

Journal of the European Economic Association, Papers and Proceedings
8 (2-3), April/May 2010, pp. 487-496.
Julián Messina (World Bank and Univ. de Girona),
Cláudia F. Duarte (Banco de Portugal),
Philip Du Caju (National Bank of Belgium),
Mario Izquierdo (Banco de España),
Niels L. Hansen (Danmarks Nationalbank).

Some macroeconomic and monetary policy implications of new micro evidence on wage dynamics

Journal of the European Economic Association, Papers and Proceedings
8 (2-3), April/May 2010, pp. 506-513.
Grégory de Walque (National Bank of Belgium),
Michael Krause (Deutsche Bundesbank),
Stephen Millard (Bank of England),
Juan F. Jimeno (Banco de España),
Hervé Le Bihan (Banque de France),
Frank Smets (European Central Bank).

Oil and the Great Moderation

Economic Journal 120, March 2010, pp. 131-156.
Anton Nakov (Banco de España),
Andrea Pescatori (FRB Cleveland).

Monetary policy tradeoffs with a dominant oil producer

Journal of Money, Credit and Banking 42 (1), February 2010, pp. 1-32.
Anton Nakov (Banco de España),
Andrea Pescatori (FRB Cleveland).

Assimilation of immigrants in Spain: a longitudinal analysis

Labour Economics 16 (6), December 2009, pp. 669-678.
Mario Izquierdo (Banco de España),
Aitor Lacuesta (Banco de España),
Raquel Vegas (FEDEA).

Empirical analysis of corporate credit lines

Review of Financial Studies 22 (12), December 2009, pp. 5069-5098.
Gabriel Jiménez (Banco de España),
Jose A. López (FRB San Francisco),
Jesús Saurina (Banco de España).

Multivariate location-scale mixtures of normals and mean-variance-skewness portfolio allocation

Journal of Econometrics 153 (2), December 2009, pp. 105-121.
Javier Mencía (Banco de España),
Enrique Sentana (CEMFI).

News and highlights

The theory and practice of macro-prudential regulation Link in a new window

International Journal of Central Banking

The Banco de España will host the second International Journal of Central Banking (IJCB) Link in a new window spring conference on financial stability on June 17-18, 2010, in Madrid. The conference will address the need for a macro-prudential regulatory framework to confront systemic risk. Papers presented at the conference will be considered for publication in IJCB. The conference organizers are Douglas Gale (NYU), Til Schuermann (New York Fed), Rafael Repullo (CEMFI), and Frank Smets (ECB).

Financial globalization: Shifting balances Link in a new window

BANCO DE ESPAÑA

The Banco de España is organizing a conference on "Financial globalization" in Madrid on July 1-2, 2010, together with the World Bank and CREI Link in a new window. The meeting will analyze the relationships between financial globalization, global financial imbalances, and the recent financial crisis, with particular emphasis on policy challenges for Latin America and other emerging markets.

European Summer Symposium in International Macroeconomics (ESSIM) 2010 Link in a new window

Centre for Economic Policy Research

The Banco de España and the CEPR Link in a new window jointly organized the eighteenth edition of this conference. The symposium took place place on May 25-28, 2010, at the Banco de España's facilities in Roda de Bará (Tarragona), Spain.

Conference programme >PDF File: Link in a new window

High-Level Seminar on Labour Market Experiences: Towards More Efficient Labour Markets Link in a new window

BANCO DE ESPAÑA

On May 11, 2010, the Banco de España hosted the seminar "Towards More Efficient Labour Markets", jointly organized with the International Monetary Fund. The workshop studied the labour market impact of the recent financial crisis in various European and OECD countries, in the light of these countries' differing labour market institutions.

Seminar programme >PDF File: Link in a new window

Current visiting researchers

BANCO DE ESPAÑA

In keeping with its support for economic research in Spain, the Banco de España regularly invites proposals from expert scholars to undertake research projects at its headquarters in Madrid. Current visiting researchers (2009-2010) include:

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