News and highlights
9th Research Workshop Banco de España – CEMFI
More information coming soon.
Third Conference on Financial Stability
More information, including the full programme, can be found here
.
Latest research feature 
(214 KB)
Central bank liquidity lines gained momentum since the global financial crisis and were used extensively throughout the pandemic. US dollar swap lines are well studied, but much less is known about the effects of liquidity lines in euros. Do ECB euro liquidity lines decrease Euro funding costs in the targeted economies? And are there positive spillbacks for the Euro Area Economies? Our paper answers these questions by studying the direct and indirect effects of ECB liquidity lines. We use a difference-in-differences strategy to show that the announcement of ECB euro liquidity lines has a direct positive signalling effect since the premium paid by foreign agents to borrow euros in FX markets decreases up to 76 basis points relative to currencies not covered by these facilities. Additionally, the paper provides suggestive evidence that these facilities generate positive spillbacks to the euro area since domestic bank equity prices increase by 6.7% in euro area countries highly exposed via banking linkages to countries whose currencies are targeted by liquidity lines.
Joint CEPR and Seventh Banco de España Economic History Seminar
More information, including the full programme, can be accessed here.
Analysis and research priorities for the Banco de España: 2020-2024
Analysis and research priorities for the Banco de España: 2020-2024
The Banco de España has published the analysis and research priorities on which it will be focusing in the coming years. This will give it the analytical capacity needed to prepare it for the challenges that the various changes in the economic and social environment pose for its mission. With this publication, the Banco de España takes a further step in its policy of research activity transparency, seeking in turn to promote collaboration in these priority areas with academia and the community of economic analysts. Read the full document here (185 KB).
Call for research projects in Economic History
Banco de España launches the annual programme of research grants for excellent research projects in Economic History. Access the call for projects here (4 MB).
Events affected by COVID-19
Due to the extraordinary circumstances caused by Covid19 several conferences organized by Banco de España are being cancelled or postponed. This includes the Malaga Finance Workshop initially scheduled for June 4-5 and the workshop on labor economics initially scheduled for June 7-8.
JEEA outstanding article award
The EEA has awarded the Hicks-Tinbergen medal 2020 to Jose Asturias, Manuel García-Santana and Roberto Ramos for their paper "Competition and the Welfare Gains from Transportation Infrastructure: Evidence from the Golden Quadrilateral of India" (JEEA, 17(6)).
Outstanding referee award
Omar Rachedi has been awarded the 2019 referee prize of the Economic Journal, which recognizes the contribution of exceptional referees with an annual award.
Data Laboratory
The Banco de España has launched a data laboratory (BELab) to provide access to the research community to high-quality microdata compiled by the institution. BELab will be making microdata on non-financial corporations reporting to the Central Balance Sheet Data Office available to researchers. The dissemination of these data is part of the agreement entered into on 11 July this year between the Banco de España and the Spanish Mercantile and Property Registrars’ Association, which authorises the controlled or confidential use of this information. Like other laboratories of Eurosystem institutions, BELab is a member of the INEXDA1 network and applies protocols for secure access to sensitive data. Initially, data use will obligatorily be on the premises of the Banco de España (at calle Alcalá, 522), where a safe environment (an on-site laboratory or data room) is located. More information can be found here.
Outstanding referee award
Omar Rachedi has been awarded the 2019 referee prize of the Economic Journal, which recognizes the contribution of exceptional referees with an annual award.
Workshop: “Housing affordability: Policies in the rental market”
More information, including the full programme, can be found here.
Job openings for PhD economists
The Banco de España is hiring in the job market. The Bank is interested in individuals with strong modeling and empirical skills to conduct high-quality policy-oriented research, to produce reports for the Bank's senior managament and to write for the Bank's publications. The application deadline is 15 November 2019. Job details
24th Meeting of the Central Bank Researchers Network CEMLA
On October 30 and 31, the Banco de España hosted the 24th Meeting of the Central Bank Researchers Network CEMLA. Dimitrios Tsomocos gave the keynote speech. Program (263 KB)
6th World Bank-Banco de España International Policy Conference
More information, including the full programme, can be found here.
7th Joint BdE-CEMFI Research Workshop
On October 22, 2019, the Banco de España hosted the 7th Joint Research Workshop with CEMFI in which researchers from both institutions will discussed their recent work. This meeting continued the series of regular workshops meant to forge stronger links between the Banco de España and the wider Madrid research community. Program (249 KB)
Young Economists Best Paper Award of the 7th Workshop in Macro Banking and Finance
The paper “Macroeconomics, Firm Dynamics and IPOs” by Beatriz González received the Young Economist Best Paper Award of the 7th Workshop in Macro Banking and Finance held at Collegio Carlo Alberto (Turin, Italy) on the 3rd and 4th of October 2019.
3rd Annual Workshop of the ESCB Research Cluster 3
More information, including the full programme, can be found here.
Data Laboratory
The Banco de España has launched a data laboratory (BELab) to provide access to the research community to high-quality microdata compiled by the institution. BELab will be making microdata on non-financial corporations reporting to the Central Balance Sheet Data Office available to researchers. The dissemination of these data is part of the agreement entered into on 11 July this year between the Banco de España and the Spanish Mercantile and Property Registrars’ Association, which authorises the controlled or confidential use of this information. Like other laboratories of Eurosystem institutions, BELab is a member of the INEXDA1 network and applies protocols for secure access to sensitive data. Initially, data use will obligatorily be on the premises of the Banco de España (at calle Alcalá, 522), where a safe environment (an on-site laboratory or data room) is located. More information can be found here.
Third Banco de España Annual Research Conference
More information, including the full programme, can be found here.