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Growth and imbalances in Spain: a reassessment of the output gap

Alberola, Enrique; Estrada, Ángel; Santabárbara, Daniel - In: SERIEs 5 (2014) 2, pp. 333-356

called ‘The Great Moderation’. In Spain, a similar pattern was observed: in fact, potential growth estimates were trending … of macroeconomic imbalances, therefore provided misleading signals to the policymakers. In this paper we apply to Spain a …

Persistent link: https://www.econbiz.de/10010994606

Growth and imbalances in Spain: A reassessment of the output gap

Alberola, Enrique; Estrada, Ángel; Santabárbara, Daniel - In: SERIEs - Journal of the Spanish Economic Association 5 (2014) 2/3, pp. 333-356

called "The Great Moderation". In Spain, a similar pattern was observed: in fact, potential growth estimates were trending … of macroeconomic imbalances, therefore provided misleading signals to the policymakers. In this paper we apply to Spain a …

Persistent link: https://www.econbiz.de/10011650290

A quarterly macroeconometric model of the Spanish Economy

Estrada, Ángel; Fernández, José Luis; Moral, Esther; … - Banco de España - 2004

This paper presents a new version of the Spanish quarterly macroeconometric model. The previous version [see Willman and Estrada (2002)] evidenced a number of shortcomings, some of which are redressed here. In particular, the model now uses seasonally and working days adjusted time series; it...

Persistent link: https://www.econbiz.de/10005590723

The Spanish block of the ESCB-Multi-Country model

Willman, Alpo; Estrada, Ángel - Banco de España - 2002

This paper presents the Spanish country block (ES-MCM) of the ESCB Multi-Country Model for the euro area, which has been built in a close co-operation with the ECB and the Banco de España. The theoretical structure of the ES-MCM block is in line with most current mainstream macro models, i.e....

Persistent link: https://www.econbiz.de/10004981009