This article presents a dynamic growth model with energy as an input in the production function. The available stock of energy resources is ordered by a quality parameter based on energy accounting: the “Energy Return on Energy Invested” (EROI). To our knowledge this is the first paper where...

The International Investment Position records the value of foreign assets and liabilities of an economy in a given date. Its evolution is determined by the financial transactions of the Balance of Payments, which affects the volume of assets and liabilities, by differences in the valuation of...

The International Investment Position records the value of foreign assets and liabilities of an economy in a given date. Its evolution is determined by the financial transactions of the Balance of Payments, which affects the volume of assets and liabilities, by differences in the valuation of...

Artículo de revista

Since 2022, interest rates and yields on Spanish Treasury bonds have increased sharply. From the perspective of monetary policy implementation, rate increases imply a reduction in the market value of marketable assets used as collateral in Eurosystem credit operations. In this context, this...