Research Staff(alphabetical)
Disclaimer. The Curriculum Vitae in this page, and any links from this page to websites outside of the www.bde.es domain, are the sole responsibility of Óscar Arce. The Banco de España is not responsible for their content.
Óscar Arce
Currently on leave from Banco de España
DG Economics, ECB
Contact Information
- Address: Calle Alcalá 48, 28014 Madrid, España
Fields of Interest
- Main: Macroeconomics, Financial economics, Spanish economy
- Asset markets and the macroeconomy
- Housing markets, banking, financial stability, regulations
JEL Codes
- No JEL Codes specified.
Curriculum Vitae
(296 KB)
Selected Publications and Working Papers
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“A Large Central Bank Balance Sheet? Floor vs corridor systems in a New Keynesian environment”
O. Arce, G. Nuño, D. Thaler and C. Thomas
Journal of Monetary Economics, in press
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“Making Room for the Needy: The Credit-Reallocation Effects of the ECB’s Corporate QE”
O.Arce, R. Gimeno and S. Mayordomo
Review of Finance, in press
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“When fiscal consolidation meets private deleveraging”
J. Andrés, O.Arce, C. Thomas and D. Thaler
Review of Economic Dynamics, Vol 37, July 2020, Pages 214-233
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“Deciphering the macroeconomic effects of internal devaluations in a Monetary Union”
Javier Andrés, Óscar Arce, Jesús Fernández-Villaverde and Samuel Hurtado
Banco de España, Working Paper no. 2016, June 2020.
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“Adapting lending policies in a “negative-for-long” scenario”
O.Arce, M. García-Posada, S. Mayordomo, and S. Ongena
July 2020
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“Structural Reforms in a Debt Overhang”
Javier Andrés, Oscar Arce and Carlos Thomas (2017)
Journal of Monetary Economics, 88, June 2017, p.p. 15-34
JEL codes: E44, E65, G21
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“Policy Spillovers and Synergies in a Monetary Union”
Óscar Arce, Samuel Hurtado and Carlos Thomas (2016)
International Journal of Central Banking, 12 (3), September 2016, p.p. 219-277.
JEL codes: E44, E63, D42
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“The impact of the 2011 short-sale ban on financial stability: Evidence from the Spanish stock market”
Óscar Arce and Sergio Mayordomo (2016)
European Financial Management, 22 (5), November 2016, p.p. 1001–1022.
JEL codes: E44, G14, G18
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“Collateral Constraints, Banking Competition and Optimal Monetary Policy”
Javier Andrés, Óscar Arce and Carlos Thomas (2013-12)
Journal of Money, Credit and Banking , 2013, vol 45 (s2): 87-125.
JEL codes: E32, 352, G10, G21
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“Credit risk valuation in the sovereign CDS and bonds markets: Evidence from the euro area crisis”
Óscar Arce, Sergio Mayordomo and Ignacio Peña (2013-06)
Journal of International Money and Finance - 35, pp. 124-145
JEL codes: G10, G14, G15
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“Macroeconomic adjustment under loose financing conditions in the construction sector”
Óscar Arce, José M. Campa and Ángel Gavilán (2013-04)
European Economic Review - 59 (565), pp. 19-34
JEL codes: E22, E32, E44
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“Banking Competition, Housing Prices and Macroeconomic Stability”
Javier Andrés and Óscar Arce (2012-01)
Economic Journal - 122 (565), pp. 1346-1372
JEL codes: E32, E43, E44, G21
- Supplementary files: Banco de España Working Paper #0830
- Supplementary files: Banco de España Working Paper #0830
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“Housing Bubbles”
Óscar Arce and David López-Salido (2011-01)
American Economic Journal: Macroeconomics - 3, pp. 212-241
JEL codes: G21, R21, R31
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Supplementary files: Banco de España Working Paper #0815
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Supplementary files: Banco de España Working Paper #0815
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“Speculative Hyperinflations and Currency Substitution”
Óscar Arce (2009-05)
Journal of Economic Dynamics and Control - 33 (10), pp. 1808-1823
JEL codes: E31, E41, E63