Spanish Abstract: Este artículo describe brevemente las principales características de los programas de evaluación del sistema financiero del FMI y del Banco Mundial, denominado FSAP, con especial atención a las pruebas de estrés, por ser estas uno de los pilares de dicho programa, a la vez...

We analyse the behaviour of credit default swaps (CDS) for a sample of firms and find support for the theoretical equivalence of CDS prices and credit spreads. When this is violated we suggest the CDS price can be viewed as an upper bound on the price of credit risk, while the spread provides a...

This article analyses changes in investment by foreigners in the residential real estate market in Spain between 2007 and 2019. Two indicators are used for this purpose: gross purchases by foreigners as a percentage of total transactions and net purchases (purchases less sales) relative to the...