This paper presents the update of the macroeconometric model used at the Bank of Spain for medium term macroeconomic forecasting, as well as for performing policy simulations. The many changes that the Spanish economy has experimented in the last years, and the new system of national accounts...

El Modelo Trimestral del Banco de España (MTBE) constituye una herramienta fundamental para la elaboración de proyecciones a medio plazo de la economía española y para la cuantificación de los posibles efectos de distintas medidas de política económica o de perturbaciones de diversa...

Opinion-based surveys, or quantitative surveys, are potentially very powerful tools for conjunctural analysis in view of their rapid availability and nature. This paper addresses the usefulness of these surveys for monitoring the Spanish economy. To do this it analyses the two most important...

This paper examines the determinants of the non-performing loans ratio of Uruguayan banks and studies the existence of cointegration relationships between this ratio and a set of macroeconomic variables. Authors find evidence of the existence of a relationship between non-performing loans ratio,...