The role that domestic and international financial conditions have in shaping developing countries’ governments’ debt structure is structurally estimated using data on individual bond issuance. The structural model, which uses financial and demographic conditions to achieve identification,...

Artículo de revista

Artículo de revista

Este artículo propone un conjunto de modelos de Vectores Autorregresivos Estructurales Bayesianos (SBVAR), el cual es usado para: distinguir los principales choques que influencian a la economía española a través del tiempo, y proveer predicciones de PIB e inflación de corto y medio plazo....

Artículo de revista ; The serious economic impact deriving from the COVID-19 pandemic on already ailing low-income countries has prompted the search for support instruments among the international financial community. The official debt moratorium agreed by the G20 for these countries in the...

Artículo de revista ; In the year since the onset of the pandemic caused by COVID-19, the International Monetary Fund (IMF or the Fund) has granted loans and emergency financing to over 85 countries, an unprecedented number. In the past, a shock on this scale would have brought the issue of the...

En este artículo se analiza la transmisión del riesgo tanto en los mercados de deuda soberana y de renta variable del área del euro como en los sectores financiero y no financiero de España. Para ello, el estudio se basa en la metodología propuesta por Diebold y Yilmaz (2009) para medir la...

This article analyzes the transmission of risk across euro area sovereign debt markets, euro area equity markets, and financial and non-financial sectors in Spain. To this end, the study draws on the connectedness methodology proposed by Diebold and Yilmaz (2009), which focuses on forecast error...

This paper uses six waves of the Bank of Italy Survey of Households Income and Wealth to explore the dynamics of asset portfolio ownership. The household asset portfolio decision is a choice among discrete alternatives, and I model the problem in a multinomial framework. I focus on a...

Mexico’s policy stance has focused on balancing domestic and external conditions, supporting the recovery while rebuilding policy buffers through fiscal consolidation and reserve buildup. Growth has remained resilient during the first half of 2011 and is expected to continue into 2012,...