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Firm size and judicial efficacy: Evidence for the civil procedures in Spain

García-Posada, Miguel; Mora-Sanguinetti, Juan S. - Banco de España - 2013

The literature has found that the size of firms matters for innovation and productivity and, thus, for economic performance. It is therefore worth explaining why enterprises in Spain are small in international terms. Our findings indicate that the quality of the institutional environment plays a...

Persistent link: https://www.econbiz.de/10010678675

Credit Institutions' Price Policies and Type of Customer: Impact on the Money Transmission Mechanism.

Frías, M. Cruz Manzano; Belmonte, Sofía Galmés - Banco de España - 1996

credit institutions operate. …

Persistent link: https://www.econbiz.de/10005155225

Credit Growth, Problem Loans and Credit Risk Provisioning in Spain

Lis, Santiago Fernández de; Pagés, Jorge Martínez; … - Banco de España - 2000

This paper analyses the cyclical behaviour of bank credit, loan losses and provisions for loan losses in Spain. These … and regulators. In a context of strong competitive pressures, there is a tendency for loose bank credit conditions in an … upturn in view of the low level of contemporaneous non-performing loans. This may contribute to an over-extension of credit …

Persistent link: https://www.econbiz.de/10005155309

The determinants of household credit in Spain

Nieto, Fernando - Banco de España - 2007

household credit, considering that the behaviour of its determinants is exogenous. According to the evidence reported, household …

Persistent link: https://www.econbiz.de/10005590726

Are Ex-Post Real Interest Rates a Good Proxy for Ex-Ante Real Rates? An International Comparison with a CCAPM Framework.

Ayuso, Juan; López-Salido, J. David - Banco de España - 1997

We use an integrated framework based on the CCAPM to jointly estimate ex-ante real interest rates, inflation risk premia and agents' inflation expectation errors in four countries - France, Spain, UK and US - under three different preference specifications.

Persistent link: https://www.econbiz.de/10005022298

Does Public Spending Crowd Out Private Investment? Evidence from a Panel of 14 OECD Countries.

Argimón, Isabel; González-Páramo, José M.; Alegre, … - Banco de España - 1995

Persistent link: https://www.econbiz.de/10005155205

A Model of the Open Market Operations of the European Central Bank

Ayuso, Juan; Repullo, Rafael - Banco de España - 2000

We construct a model to analyse the two types of tender procedures used by the European Central Bank in its open market operations. We assume that the ECB minimizes the expected value of a loss function that depends on the quadratic difference between the interbank rate and a target interest...

Persistent link: https://www.econbiz.de/10005155252

Indicators of Short-Term Interest Rate Expectations. The Information Contained in the Options Market.

Manzano, María C.; Sánchez, Isabel - Banco de España - 1998

This paper has estimated, using a non-parametric method, the distribution function of expected three-month interbank rates, using data on call options on the MIBOR-90 future. The evolution over time of this distribution function has enabled the effects of movements in the Banco de España...

Persistent link: https://www.econbiz.de/10005155264

What Does Consumption Tell Us about Inflation Expectations and Real Interest Rates?

Ayuso, Juan; López-Salido, J. David - Banco de España - 1996

We estimate real interest rates, bounds on inflation expectations and inflation risk premia in a CCAPM framework under four different preference specifications.

Persistent link: https://www.econbiz.de/10005155286

Is there a Trade-Off Between Exchange Rate Risk and Interest Rate Risk?

Huertas, Juan Ayuso - Banco de España - 1995

Persistent link: https://www.econbiz.de/10005590703