Banco de España Research
Publications, conferences, and other news from @bde.es researchers. Authors’ views are their own and not necessarily those of the Banco de España.
- We are opening applications for a technical research assistant pool — a unique opportunity to boost your career by working with top‑tier data and analysing public policies. ➡️ www.bde.es/wbe/en/sobre... #BdeResearch
- Call for Papers now open for the CEBRA (Central Bank Research Association) 2026 Annual Meeting! Submit by March 2. Details: cebra-events.org/annual-meeti... #CEBRA26
- Monetary policy shocks that affect the short end of the yield curve dampen private equity activity, by reducing both the volumes and prices of deals as well as the use of leverage ➡️ www.bde.es/wbe/en/publi... #BdeResearch
- We’ve just released the households’ Distributional Wealth Accounts: a window into how Spanish household wealth and debt evolve over time. Find out more on the press release and the #BdEBlog and explore the interactive charts on our website 👉 www.bde.es/wbe/en/inici...
- Peru’s FX macroprudential policy reduced dollarization but tightened credit for micro and small firms. Large firms adjusted by switching banks and currencies, highlighting a policy trade-off between financial stability and small-firm credit access. www.bde.es/wbe/en/publi... #BdeResearch
- Next research seminar: Carlos Montes-Galdón (ECB) will be presenting "Deep-pi": A neural network approach to estimate trend inflation" www.bde.es/wbe/en/areas... on January 27, 10:00 CET. #bdeResearch
- ⏰Reminder! Last days to apply! Banco de España organizes the 1st Workshop on Financial Intermediation on 7 May 2026. Each accepted paper will have a discussant and Prof. Rajkamal Iyer will deliver a keynote speech. Deadline for submission: 2 February 2026. Call for papers: www.bde.es/wbe/es/notic...
- We find a limited contractionary effect on Slovak housing prices and investment, particularly during downturns. We show, within the ChaMP framework, that monetary transmission differs across euro area countries. www.bde.es/wbe/en/publi... #bdeResearch
- The Banco de España has published its Analytical Priorities for 2025–2030, outlining the key elements that will guide its research and inform its decision-making. Discover these priorities and the highlighted methodological approaches on the #bdeBlog www.bde.es/wbe/en/inici...
- 📢 News for researchers: Would you like to analyse the housing market in Spain? Thanks to our collaboration with Registradores de España, you can now carry out your research project at #BELab using #microdata from the Property Registry Statistics (PROP): www.bde.es/wbe/en/estad...
- 🧐Updates for researchers: Do you want to know which specific securities the main sectors of our economy invest in? You can now carry out your research project at the #BELab using the #Securities Holdings by Sector (SHSS) data ➡️ www.bde.es/wbe/en/para-... #bdeResearch
- Since the sovereign debt crisis, Europe’s #politicalpolarization has risen, which could hurt governance. ES, DE, FR: more polarization and more gridlock; Italy diverges. Narrative-based, cross-country indices separately measure polarization and legislative gridlock 👉 www.bde.es/wbe/en/notic...
- 🧐 Scholarship opportunity by @bde.es! Are you a university graduate or in your final year? Expand your knowledge in #Economics through official postgraduate studies ➡️ www.bde.es/wbe/en/sobre... #bdeResearch #bdeEmpleo
- From all of us at @bde-research.bsky.social , we’re sending warm wishes for a joyful holiday season. We will be back on January 7th 2026 for a whole new year filled with exciting research. #BdeResearch
- Banco de España organizes the 1st Workshop on Financial Intermediation on 7 May 2026. Each accepted paper will have a discussant and Prof. Rajkamal Iyer will deliver a keynote speech. Deadline for submission: 2 February 2026. Call for papers: www.bde.es/f/webbe/INF/... #bdeResearch
- A model comparison shows that energy price shocks—temporary and permanent—are inflationary, though the impact of permanent shocks depends on the model assumptions and monetary policy response, with differences across the US and euro area. www.bde.es/wbe/en/publi... #bdeResearch
- Next research seminar: Álvaro Ortiz (BBVA Research) will be presenting “Geopolitics, Geoeconomics and Risk: A Machine Learning Approach” www.bde.es/wbe/en/areas... on December 11, 12:00 CET. #bdeResearch
- Uncertainty spreads across borders: using EPU we show that uncertainty in Latin America significantly affects key variables of its main trade and financial partners. www.bde.es/wbe/en/publi... #BdeResearch
- Next research seminar: Stefan Gissler (Board of Governors of the Federal Reserve System) will be presenting “Intraday liquidity management and the value of flexibility” on December 10, 12:00 CET. www.bde.es/wbe/en/areas... #bdeResearch
- Next research seminar: Lukas Hack (ETH Zurich and University of Mannheim) will be presenting “Progressive Income Taxation and Inflation: The Macroeconomic Effects of Bracket Creep” on December 9, 10:00 CET. www.bde.es/wbe/en/areas... #bdeResearch
- Using a hazard model of TLTRO early exit, we find that maturity, pricing, collateral, leverage ratio and our proposed measures of bank liquidity drive demand for long-term central bank operations, linking reserve demand to liquidity regulation. www.bde.es/wbe/en/publi... #BdeResearch
- A search-and-matching model shows a core trade-off in family policies: those that raise earnings lower fertility, and those that raise fertility lower earnings. Only promotion subsidies improve both 👉 www.bde.es/wbe/es/publi... #BdeResearch @ruggieriale.bsky.social
- Next research seminar: Pamela Giustinelli (Bocconi University) will be presenting “Outcomes, Counterfactuals, and Elicited Beliefs: Evidence from Higher Education Admissions” on December 3, 12:00 CET. www.bde.es/wbe/en/areas... #bdeResearch
- Next research seminar: Andreas Fuster (EPFL, Swiss Finance Institute, and CEPR) will be presenting “The Response of Debtors to Rate Changes” on December 2, 12:00 CET. www.bde.es/wbe/en/areas... #bdeResearch
- When euro-area governments announce price-related (expansionary) fiscal measures, households perceive higher inflation but an improved labour market outlook. www.bde.es/wbe/es/publi... #bdeResearch
- This paper offers a comprehensive characterization of fiscal drag in Europe in recent years and finds very heterogeneous impacts across countries, with implications for revenue collection, redistribution, and macroeconomic stability. ➡️ www.bde.es/wbe/es/publi... #bderesearch
- Next research seminar: Davide Brignone (Bank of England) will be presenting “Structural forecast analysis” on November 27, 12:00 CET www.bde.es/wbe/en/areas... #bdeResearch
- Next research seminar: @fpj-portier.bsky.social ( University College London) will be presenting “Escaping Taylor-Rule Biases: An Agnostic Approach to Monetary Policy-Rule Modelling” on November 26, 12:00 CET. www.bde.es/wbe/en/areas... #bdeResearch
- Next research seminar: Juan F. Rubio-Ramírez (Emory University) will be presenting “Are Fiscal Transfers Inflationary?” on November 19, 11:30 CET. www.bde.es/wbe/en/areas... #bdeResearch
- Next research seminar: Franco Fiordelisi will be presenting “Supervisory-Driven Credit Reallocation” on November 18, 12:00 CET. www.bde.es/wbe/en/areas... #bdeResearch
- What are the origins of top firms? This paper presents new facts about the first 20 years of firms that reach the top 1%. A model with ex-ante types, non-homotheticities, and financial frictions can account for top and bottom firm dynamics. ➡️ www.bde.es/wbe/en/publi... @fkocheng.bsky.social
- Our Annual Research conference will focus on the Economics of Artificial Intelligence. You can see the full program here: www.bde.es/wbe/es/notic... #bdeResearch
- Next research seminar (in spanish): Antonio Cabrales (Universidad Carlos III) will be presenting “Economía de la educación: Una introducción con énfasis en España” on November 12, 12:00 CET. www.bde.es/wbe/en/areas... #bdeResearch
- The best way to mitigate the potential risks posed by the accumulation of sovereign debt in European banks is to create a common safe asset for the EU. Other alternatives, such as regulatory changes, could have undesirable consequences ➡️ www.bde.es/wbe/es/publi... #BdeResearch
- In Spain, 77% of firms have fewer than five employees, compared with 71% in the EU. They are also growing more slowly. Bridging this gap is key to achieving a more productive and innovative economy. We analyse the reasons in our #bdeBlog www.bde.es/wbe/en/notic...
- Armed conflicts reveal our vulnerability, also in commercial terms. Relying on a limited number of suppliers for imports is not a good trade strategy. Moreover, prices tend to be higher. Diversify or pay more: this is the the EU's undertanding within its internal market. youtu.be/4v3Nd7d896g
- Next research seminar: Giovanni Callegari (European Stability Mechanism) will be presenting “Fiscal Sustainability and Policy Interactions” on November 6, 12:00 CET. www.bde.es/wbe/en/areas... #bdeResearch
- Next research seminar: Andreas Moxnes will be presenting “Follow FDI: Domestic and Global Production Networks” on November 5, 12:00 CET. www.bde.es/wbe/en/areas... #bdeResearch
- Database update! The EUROPROD-UA TFP growth database has been updated with data through 2025Q2 #bdeResearch #productivity ➡️ www.bde.es/wbe/en/areas...
- Next research seminar: Tom Zohar (@cemfi.es ) will be presenting “Children of Immigrants: Intergenerational Mobility Across Countries” on October 29, 12:00 CET. www.bde.es/wbe/en/areas... #bdeResearch
- Next seminar: Aitor Erce (Navarra Public University) will be presenting “Sovereign Defaults at Home and Abroad” on Oct 22nd, 12h CET. www.bde.es/wbe/en/areas... #bdeResearch
- Next seminar: Dominic Rohner (Geneva Graduate Institute) will be presenting “Who Wins Wars” on Oct 20th, 15h CET. www.bde.es/wbe/en/areas... #bdeResearch
- Economic growth worldwide only began to take off in the early 19th century. This year’s winners of the Nobel Prize in Economics (Mokyr, Aghion and Howitt) show why innovation has snowballed since then, accelerating growth. Check out our blog 👉 www.bde.es/wbe/en/notic... #bdeBlog
- We will host the 17th Workshop Banco de España-CEMFI on October 20. See the programme below ➡️ www.bde.es/wbe/es/notic... #bdeResearch
- Do bank regulations spill over across borders? We uncover a trade transmission channel: Spain’s 2012 loan loss provisioning shock made partners’ total exports fall due to lower demand from importers tied to the most affected banks. ➡️ www.bde.es/wbe/es/publi... #BdeResearch
- .@bde.es is hiring on the #EconJobMarket . We offer a unique environment in which to develop cutting-edge quality research with an impact on society. www.bde.es/wbe/en/sobre... #BdeResearch
- Next seminar: Ignacio Arbués ( Ministerio de Economía) will be presenting “A Quasi-Structural Model for the Spanish Economy” on Oct 16th, 12h CET. www.bde.es/wbe/en/areas... #bdeResearch
- Next seminar: @peterlevell.bsky.social (Institute for Fiscal Studies) joint work with Martin O'Connell and Kate Smith will be presenting "The welfare effects of price shocks and household relief packages: evidence from an energy crisis" on Oct 15, 12.00 CET. www.bde.es/wbe/en/areas... #bdeResearch
- Next seminar: David Seim will be presenting “Private Health Insurance under Universal Coverage: Balancing Efficiency and Equity” on Oct 8th, 12h CET. www.bde.es/wbe/es/areas... #bdeResearch
- Carbon taxes raise inflation and reduce output. Subsidies to green firms ease recessions, while transfers to constrained households lift consumption but do not speed the green transition. Global coordination adds modest effects. ➡️ www.bde.es/wbe/es/publi... #bdeResearch
