Using a simple format and plain language, the Banco de España Blog seeks to make our work more accessible to the general public. Posts share our analysis of economic and financial issues and the ins and outs of the Banco de España’s tasks and activities with all those curious to know more.
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14/10/2024
The 2024 Nobel Prize in Economics has been awarded to Professors Acemoglu, Johnson and Robinson for their work on how the strength of institutions shapes the relative prosperity of nations. Their message is especially relevant today as institutional quality is declining worldwide.
5 min
Governance
Productivity
Financial risks
International trade
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14/10/2024
The 2024 Nobel Prize: institutional quality boosts economic growth
The 2024 Nobel Prize in Economics has been awarded to Professors Acemoglu, Johnson and Robinson for their work on how the strength of institutions shapes the relative prosperity of nations. Their message is especially relevant today as institutional quality is declining worldwide.
08/10/2024
Artificial intelligence and employment: maximising the benefits and minimising the negatives
New robotics and artificial intelligence technologies could transform the labour market. Their deployment will shape the future of the workforce, both in terms of the number of jobs and who will fill them. Employment policies must manage these changes proactively to maximise the potential benefits and minimise the negative effects.
25/09/2024
How does the Banco de España manage its financial risks?
Achieving price stability – the main aim of a central bank – involves financial risks for these institutions, which have increased over recent years. The type of risks, and the way they are managed, are rather different from those of commercial banks. In any case, for the Banco de España, it is vital that risks are efficiently managed and adequate risk coverage ensured.
13/09/2024
The boom in Spanish exports since 2008: what do we export and where to?
Between 2008 and 2023, Spanish exports grew as a share of GDP from 26% to 39%. This extraordinary growth was broad-based across products and destinations. However, the increasing fragmentation of international trade flows might threaten the future performance of Spanish exports.
03/09/2024
Inflation affects us all differently. What determines how each of us feels the squeeze?
We all feel the squeeze of inflation, but some feel the pinch more than others. Inflation affects us through different channels that impact our ability to save. Drawing on a rich dataset, we find that in 2021 both the level of labour income and, above all, age explain how inflation affects different Spanish households differently.
14/08/2024
The capital markets union: a necessary step to boost investment in Europe
Europe needs more productive investment to bolster its economic growth. This requires diversifying its funding sources beyond access to bank loans and, inevitably, further developing and integrating European capital markets.
29/07/2024
Measuring economic uncertainty. The role of artificial intelligence
Uncertainty is part and parcel of our lives. It affects our decisions and economic activity too. That’s why identifying and measuring economic uncertainty is key for economists. The Banco de España has developed various indicators of uncertainty, such as the EPU indexes, that help assess the risks and quantify their possible impact on activity.
04/07/2024
The value of an exhibition: “Photographic Archive. Banco de España. From Albumen to Pixel"
The Banco de España’s Historical Archive preserves the Bank’s institutional memory from 1782 to the present day. Part of the Archive’s photographic collection, which contains some 25,000 images, is now on display at our Madrid headquarters until 20 July 2024.
27/06/2024
The ECB’s monetary policy decisions are implemented under the operational framework, that steers market rates to bring them into line with the Eurosystem’s key interest rates. The ECB reviewed this framework in March 2024 to adapt it to the changing monetary policy environment.
20/06/2024
A combination of extreme weather events and environmental degradation in the Mar Menor has resulted in real estate losses of more than €4 billion in the area. This figure is ten times the amount earned over the last 20 years from converting the surrounding land into irrigated farmland (one of the main drivers of the environmental degradation).
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