The Banco de España uses various microeconomic models, mostly of an empirical nature, to support its decision-making in relation to the analysis of economic and financial risks and economic policy advice. These models, which complement those of a macroeconomic nature, seeks to identify the...

El Banco de España utiliza distintos modelos de carácter microeconómico, mayoritariamente de naturaleza empírica, para sustentar su toma de decisiones en relación con el análisis de los riesgos económicos y financieros y del asesoramiento de la política económica. Esta familia de...

Artículo de revista

Artículo de revista ; The first Conference on Financial Stability, jointly organized by the Banco de España and the Centro de Estudios Monetarios y Financieros (CEMFI), was held on 24 and 25 May 2017. The Conference included a panel based on the book “The Countercyclical Provisions of the...

Artículo de revista ; In this paper we review the experience of the last Spanish boom and bust to cast some reflections on macroprudential policy. These reflections take place in a country, Spain that is a (relatively small) member of a larger monetary union, which also has a single banking...

Este documento presenta el marco analítico desarrollado recientemente por el Banco de España para la puesta en marcha de su política macroprudencial. La metodología descrita incorpora un amplio conjunto de indicadores que permiten realizar un seguimiento de los riesgos macroprudenciales a...

This paper investigates the existence and determinants of interest rates dispersion in loans and deposits of Spanish banks. A unique feature of the research is that it covers a whole industry (thirty products and two hundred banks) from 1989 to 2003. We find that: i) interest rates dispersion is...

This paper investigates the relationship between credit market competition and the availability of bank credit for firms of unobserved credit quality when firms pledge collateral to secure the loans. Loan data from the Spanish Credit Register shows that the average credit quality of borrowers...

This paper contains estimates of physical and intangible (information technology, advertising and training) capital stock, together with capital, labor and externally provided input services, of Spanish commercial and saving banks in the period 1983 to 2003. Capital stocks are valued at...