There is widespread disagreement about the role of housing wealth in explaining consumption. Much of the empirical literature is marred by poor controls for the common drivers both of house prices and consumption, including income, income growth expectations, interest rates, credit supply...

We investigate the effect of hurricane strikes on housing prices in US coastal cities. To this end, we construct a new index of hurricane destruction which varies over time and space. Using this index and an annual, two equation, dynamic equilibrium correction panel model with area and time...

We investigate the effect of hurricane strikes on housing prices in US coastal cities. To this end, we construct a new index of hurricane destruction which varies over time and space. Using this index and an annual, two equation, dynamic equilibrium correction panel model with area and time...

Artículo de revista

Artículo de revista ; El objetivo de este trabajo es doble: por un lado el estudio de los factores que afectan a las salidas a un empleo, segun sea fijo o temporal, en parados de todas las duraciones, y por otro, el analisis de las salidas del desempleo de larga duracion, bien sea hacia un...

En cubierta: Financial education plan ; CNMV

"This document analyses the level of inequality in Spain and how it evolved over the course of the past crisis and the early stages of the current recovery. To this end, it first introduces the various dimensions of wage, income, consumption and wealth inequality, and analyses how they have...

La Encuesta Financiera de las Familias 2020 (EFF2020) proporciona información detallada sobre la renta, los activos, las deudas y los gastos de los hogares españoles referida a finales de 2020. Dada la falta de fuentes estadísticas alternativas que proporcionen información sobre estas...

El presente estudio muestra cómo comparan las magnitudes construidas a partir de los microdatos de la Encuesta Financiera de las Familias (EFF) con magnitudes de fuentes alternativas, como las Cuentas Financieras y otras encuestas de renta y consumo. Para ello, primero se analizan las...

Economic theory suggests circumstances in which a rise in short term real interest rates can increase consumption, contrary to much conventional wisdom. This paper suggests that these circumstances are more likely to be prevalent in Japan and finds strong empirical evidence for a positive...