the limited data available, the recycling of these resources back to the world economy through the trade channel, via … higher imports, or the financial channel, via an increase in the net external asset position of these countries. Our results … show that around 50% of the windfall revenue has been used to increase imports, while the rest has been directed towards …

This paper presents a dynamic general equilibrium model designed to compute the aggregate impact of immigration … by the age structure of the Spanish population in 1995 and study the effects of several immigration scenarios on several …

Spain over this period. We show that the New Keynesian Phillips curve is shifted by immigration if natives' and immigrants …The Phillips curve has flattened in Spain over 1995-2006: unemployment has fallen by 15 percentage points, with roughly … constant inflation. This change has been more pronounced than elsewhere. We argue that this stems from the immigration boom in …

migrants from outside the EU-15 in Spain. Using our panel dataset we show that immigrants reduce around the half of the initial … our results given that immigration phenomenon is quite recent in the Spanish labour market and it has taken place in an …

series considered is the German Retail Trade Turnover series, for which, when adjusting with X12-ARIMA, the Bundesbank had …