This study analyses whether self-confidence affects financial abilities of young people in Spain, through financial literacy. We use data from the Programme for International Student Assessment (PISA) Financial Literacy (2012) report, conducted by the OECD. Our hypothesis is that non-cognitive...

In this paper we present a preliminary estimate of the financial impact of the recent reform of the Spanish pension system. After updating the projections of pension expenditure constructed in de la Fuente and Domenech (2010) for the period 2008-60, we analyze the impact on this variable of...

After analyzing the different reasons why the financial system and also the regulatory framework induced procyclicality, this paper reviews the experiences of three countries which have introduced dynamic provisioning as a regulatory tool to limit procyclicality. The case of...

This paper develops a simple model that can be used to analyze the long-term sustainability of the contributive pension system and the steady-state of pension expenditure to changes in some key demographic and economic variables.

While general equilibrium theories of trade stress the role of third-country effects, little work has been done in the empirical foreign direct investment (FDI) literature to test such spatial linkages. This paper aims to provide further insights into long-run determinants of Spanish FDI by...

In this paper we explore some lessons from the Spanish housing boom and the incipient bust from the point of view of the usefulness of the regulatory approach, with particular regard to dynamic provisions and the regulatory treatment of securitisation. First, we describe the main features of the...