The aim of this paper is to construct a text-based indicator that reflects the sentiment of the Banco de España economic outlook reports. Our sentiment indicator mimics very closely the first release of the GDP growth rate, which is published after the publication of the reports, and the Banco...

Artículo de revista

The Quarterly Model of Banco de España (MTBE, Modelo Trimestral del Banco de España) is a large-scale macro-econometric model used for medium term macroeconomic forecasting of the Spanish economy, as well as for evaluating the staff projections and performing scenario simulations. The model is...

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...

The quarterly model of the Banco de España (MTBE) is a primary tool in the elaboration of medium term projections for the Spanish economy and for the quantification of the effects of different economic policy measures or economic shocks of a very diverse nature. As part of the process of...