Similar Search Results

Vilarrubia, Josep M. - Banco de España - 2006

One of the most striking features of the world economy is that wealthy countries are clustered together. This paper …

Persistent link: https://www.econbiz.de/10005155256

Measuring and explaining the volatility of capital flows towards emerging countries

Broto, Carmen; Díaz-Cassou, Javier; Erce-Domínguez, Aitor - Banco de España - 2008

This paper analyzes the determinants of the volatility of different types of capital inflows to emerging countries …. After calculating a variable that proxies capital flows volatility, we study its possible causality relations with a set of …, various factors exhibit a non-robust effect on the volatility of the three different categories of capital flows, which poses …

Persistent link: https://www.econbiz.de/10005022258

The Role of the Financial System in the Growth-Inflation Link: the OECD Experience.

Andrés, Javier; Hernando, Ignacio; López-Salido, J. David - Banco de España - 1999

The main contribution of this paper is to jointly estimate the effects of financial development and inflation on growth. We aim to exploit both the cross-section and the time-series dimension of the data on inflation, growth and some banking and stock market indicators over the period 1961-1993...

Persistent link: https://www.econbiz.de/10005590692

China’s economic growth and rebalancing

Dorrucci, Ettore; Pula, Gabor; Santabárbara, Daniel - Banco de España - 2013

In this paper we provide an overview of the growth model in China and its prospects, taking a medium-run to long-run perspective. Our main conclusions are as follows. First, the still prevailing producer-biased model of managed capitalism in China tends to engender, as an inherent byproduct,...

Persistent link: https://www.econbiz.de/10010687528

Sovereign debt markets in turbulent times: creditor discrimination and crowding-out effects

Broner, Fernando; Martin, Alberto; Ventura, Jaume; … - Banco de España - 2014

In 2007, countries in the euro periphery were enjoying stable growth, low deficits and low spreads. Then the financial crisis erupted and pushed them into deep recession, raising their deficits and debt levels. By 2010, they were facing severe debt problems. Spreads increased and, surprisingly,...

Persistent link: https://www.econbiz.de/10010764909

Modelling heterogeneity and dynamics in the volatility of individual wages

Hospido, Laura - Banco de España - 2007

In this paper I consider a model for the heterogeneity and dynamics of the conditional mean and the conditional variance of standarized individual wages. In particular, I propose a dynamic panel data model with individual effects both in the mean and in a conditional ARCH type variance function....

Persistent link: https://www.econbiz.de/10005138497

Size, growth and bank dynamics

Benito, Enrique - Banco de España - 2008

This paper investigates the size distribution of the whole population of Spanish commercial, savings and cooperative banks from a dynamic perspective over the 1970 2006 period. To investigate the evolution of the size distribution, we determine whether the data satisfies the Law of Proportionate...

Persistent link: https://www.econbiz.de/10005155206

Exchange rate pass-through in new Member States and candidate countries of the EU

María-Dolores, Ramón - Banco de España - 2008

This paper studies the pass-through of exchange rate changes into the prices of imports that originated inside the euro area made by some New Member States (NMSs) of the European Union and one candidate country (Turkey). I use data on import unit values for nine different product categories and...

Persistent link: https://www.econbiz.de/10005155237

Financing obstacles and growth: An analysis for euro area non-financial corporations

Coluzzi, Chiara; Ferrando, Annalisa; … - Banco de España - 2009

This paper investigates whether financial obstacles, and, more generally, financial pressure faced by firms, significantly affect firm growth. For this purpose, we use an unbalanced panel of about 1,000,000 observations for around 155,000 non-financial corporations in five euro area countries....

Persistent link: https://www.econbiz.de/10005155305

Misalignment, liabilities dollarization and exchange rate adjustment in Latin America

Alberola, Enrique - Banco de España - 2003

Exchange rates in Latin America display a large volatility, constitute a central element of the policy strategies and … coupled with sudden stops of capitals, may help explaining the higher volatility of real exchange rates in the region. …

Persistent link: https://www.econbiz.de/10004965256