Thomas, Carlos

Associate Director General

Información de contacto

Campos de interés

Macroeconomics and Finance, Labor economics, Monetary economics

CBDC and the operational framework of monetary policy Jorge Abad, Galo Nuño y Carlos Thomas

Códigos JEL: 2404

Publicado en: Journal of Monetary Economics, v.151, April 2025, 103762

Climate-conscious monetary policy Anton Nakov y Carlos Thomas

Códigos JEL: 2334

Publicado en Journal of Political Economy Macroeconomics, v. 4, n. 2, June 2026, pp. 385-424.

Evaluating central bank asset purchases in a term structure model with a forward-looking supply factor Juan Equiza, Ricardo Gimeno, Antonio Moreno y Carlos Thomas

Códigos JEL: 2303

Publicado en European Economic Review, v. 165, June 2024, 104744

The term structure of interest rates in a heterogeneous monetary union James Costain, Galo Nuño y Carlos Thomas

Códigos JEL: 2223

Publicado en Journal of Finance, vol. LXXX, nº 4, August 2025, pp. 2389-2434.

Optimal monetary policy with heterogeneous agents (Versión actualizada. Septiembre 2019) Galo Nuño y Carlos Thomas

Códigos JEL: 1624

Publicado en: Annals of Economics and Statistics, Volume 146, June 2022, pp 3-64

A large central bank balance sheet? Floor vs corridor systems in a New Keynesian environment Óscar Arce, Galo Nuño, Dominik Thaler y Carlos Thomas

Códigos JEL: 1851

Publicado en: Journal of Monetary Economics. Volume 114, October 2020, Pages 350-367.

When fiscal consolidation meets private deleveraging Javier Andrés, Óscar Arce y Carlos Thomas

Códigos JEL: 1622

Publicado en: Review of Economic Dynamics. Volume 37, July 2020, Pages 214-233.

Policy spillovers and synergies in a monetary union Óscar Arce, Samuel Hurtado y Carlos Thomas

Códigos JEL: 1540

Publicado en: International Journal of Central Banking, 12(3), September 2016.

Monetary policy and sovereign debt vulnerability (Revised version: September 2015) Galo Nuño y Carlos Thomas

Códigos JEL: 1517

Structural reforms in a debt overhang Javier Andrés, Óscar Arce y Carlos Thomas

Códigos JEL: 1421

Publicado en: Journal of Monetary Economics, 88, pp. 15-34, June 2017

Bank leverage cycles Galo Nuño y Carlos Thomas

Códigos JEL: 1222

Publicado en: American Economic Journal: Macroeconomics, forthcoming

Optimal monetary policy with state-dependent pricing Anton Nakov y Carlos Thomas

Códigos JEL: 1130

Publicado en: International Journal of Central Banking, 10(3), September 2014.

FiMod - a DSGE model for fiscal policy simulations Nikolai Stähler and Carlos Thomas

Códigos JEL: 1110

House purchase versus rental in Spain Eva Ortega, Margarita Rubio, Carlos Thomas

Códigos JEL: 1108

Employment fluctuations in a dual labor market James Costain, Juan F. Jimeno y Carlos Thomas

Códigos JEL: 1013

Banking competition, collateral constraints and optimal monetary policy Javier Andrés, Óscar Arce y Carlos Thomas

Códigos JEL: 1001

Publicado en: Journal of Money, Credit and Banking, 45(s2), December 2013

Spain in the euro: a general equilibrium analysis Javier Andrés, Samuel Hurtado, Eva Ortega, Carlos Thomas

Códigos JEL: 0927

Labor market reform and price stability: an application to the Euro Area Carlos Thomas y Francesco Zanetti

Códigos JEL: 0818

Search frictions, real rigidities and inflation dynamics Carlos Thomas

Códigos JEL: 0806

Climate-conscious monetary policy Anton Nakov y Carlos Thomas

Códigos JEL: 2334

Publicado en línea (April 2026) en Journal of Political Economy Macroeconomics.

The term structure of interest rates in a heterogeneous monetary union James Costain, Galo Nuño y Carlos Thomas

Códigos JEL: 2223

Publicado en Journal of Finance, vol. LXXX, nº 4, August 2025, pp. 2389-2434

Evaluating central bank asset purchases in a term structure model with a forward-looking supply factor Juan Equiza, Ricardo Gimeno, Antonio Moreno y Carlos Thomas

Códigos JEL: 2303

Publicado en European Economic Review, v. 165, June 2024, 104744

CBDC and the operational framework of monetary policy Jorge Abad, Galo Nuño y Carlos Thomas

Códigos JEL: 2404

Publicado en: Journal of Monetary Economics, v.151, April 2025, 103762

Optimal monetary policy with heterogeneous agents Galo Nuño y Carlos Thomas

Códigos JEL: 1624

Publicado en: Annals of Economics and Statistics, Volume 146, June 2022, pp 3-64

A large central bank balance sheet? Floor vs corridor systems in a New Keynesian environment Óscar Arce, Galo Nuño, Dominik Thaler and Carlos Thomas (2020-10)

Journal of Monetary Economics, Vol. 114, October 2020, pp. 350 - 367

Códigos JEL: E42, E44, E52, G21

When fiscal consolidation meets private deleveraging Javier Andrés, Óscar Arce, Dominik Thaler and Carlos Thomas (2020-07)

Review of Economic Dynamics. Vol. 37, July 2020, pp. 213 - 233

Códigos JEL: E44, E60, E62

Structural reforms in a debt overhang Javier Andrés, Óscar Arce and Carlos Thomas (2017-06)

Journal of Monetary Economics – 88, pp. 15-34

Códigos JEL: E44, E65, G21

Bank Leverage Cycles Carlos Thomas and Galo Nuño (2017-04)

American Economic Journal: Macroeconomics, 9 (2), April 2017, pp. 32-72.

Códigos JEL: D82, E44, G01, G21, G32

Policy Spillovers and Synergies in a Monetary Union Óscar Arce, Samuel Hurtado and Carlos Thomas (2016-09)

International Journal of Central Banking - 12 (3)

Códigos JEL: E44, E63, D42

Optimal monetary policy with state-dependent pricing Carlos Thomas and Anton Nakov (2014-09)

International Journal of Central Banking - 10 (3)

Códigos JEL: E31

Banking competition, collateral constraints, and optimal monetary policy Carlos Thomas, Javier Andrés and Óscar Arce (2013-01)

Journal of Money, Credit and Banking - 45 (s2), pp. 87-125

Códigos JEL: E32, E52, G10, G21

Collective bargaining, firm heterogeneity and unemployment Carlos Thomas and Juan F. Jimeno (2013-04)

European Economic Review - 59, pp. 63-79

Códigos JEL: E10, J64

FiMod - A DSGE model for fiscal policy simulations Carlos Thomas and Nikolai Stähler (2012-03)

Economic Modelling - 29 (2), pp. 239-261

Códigos JEL: E24, E32, E62, H20, H50

Search frictions, real rigidities and inflation dynamics Carlos Thomas (2011-09)

Journal of Money, Credit and Banking - 43(6), pp. 1131-1164

Labor market reform and price stability: an application to the Euro Area Carlos Thomas and Francesco Zanetti (2009-09)

Journal of Monetary Economics - 56(6), pp. 885-899

Search and matching frictions and optimal monetary policy Carlos Thomas (2008-07)

Journal of Monetary Economics - 55 (5), pp. 936-956