Overall, household debt levels have risen sharply over the past decades in EU Member States. While certain levels of household debts can be beneficial, they can become problematic especially with a sudden, unexpected decrease of incomes or increase of expenditures. The current financial crisis...

ESMA provides further details on trade reporting in updated EMIR Q&AThe European Securities and Markets Authority (ESMA) has issued today updated Question & Answers (Q&As) on the implementation of the European Markets Infrastructure Regulation (EMIR). These updated Q&As clarify, among others,...

En este documento se presenta una herramienta, disponible en el Banco de España, para la previsión de los pagos por intereses de las Administraciones Públicas (AAPP) en nuestro país. Frente a modelos más detallados, que tienen en cuenta las características específicas y las fechas...

Rationale The last year has seen growing demand for healthcare services, but the causes of this increase, and how persistent it will be, are as yet uncertain. Should these dynamics prove to be long-lasting and associated with a prolonged deterioration in the general health of the Spanish...

In this dissertation, I present five dynamic general equilibrium models. The distinguishing feature of these models is that they incorporate reciprocal altruistic behavior into an otherwise standard New Keynesian framework. In particular, I extend the New Keynesian model such that the assumed...

The basic machines of macroeconomics. Ramsey, Solow, Samuelson-Diamond, RBCs, ISLM, Mundell-Fleming, Fischer-Taylor. How they work, what shortcuts they take, and how they can be used. Half-term subject. From the course home page: Course Description This is the second course in the four-quarter...

The basic machines of macroeconomics. Ramsey, Solow, Samuelson-Diamond, RBCs, ISLM, Mundell-Fleming, Fischer-Taylor. How they work, what shortcuts they take, and how they can be used. Half-term subject. From the course home page: Course Description This is the second course in the four-quarter...

The idea of a flat tax, a tax levied at a single rate, has become an increasingly discussed and implemented fiscal strategy across Europe and the rest of the world. Estonia, Latvia, and Lithuania adopted flat tax systems in 1994 and 1995, making them the first modern countries to adopt flat...