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    Miguel Cardoso
    Miguel Cardoso
    Chief Economist
    Madrid

    Miguel Cardoso is Chief Economist for Spain at BBVA Research, where he leads a team of 13 economists dedicated to the macroeconomic, sector and regional analysis of the Spanish economy. At BBVA Research he has also held positions as Chief Economist for Chile, and Senior Economist for Emerging Markets.


    Previously, he was an Assistant Professor (on tenure track) at the Department of Economics of Universidad Carlos III de Madrid, and worked also as an Advisor to the Director General of Fiscal Planning in the Ministry of Finance and Public Credit in Mexico.


    He earned a Ph.D. in Economics from the University of Minnesota in the U.S., and a BA in Economics from the Instituto Tecnológico Autónomo de México (ITAM). He has authored several publications, with some of his main areas of research being the amplification mechanisms of business cycles, the characteristics of the crisis in Spain and its regional impact, as well as the impact of public policies on the determinants of export capacity, public finance and the labor market.

    Latest publications

    June 2, 2021

    Spain | Why the Austrian backpack?
    At BBVA Research, we believe that the so-called Austrian backpack could help ensure compliance with the EC's recommendations. The main reason is that it would reduce the uncertainty surrounding dismissal costs and, with the right design, encourage open ended contracts while also favoring labor mobility.

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    May 12, 2021

    Spain | Unpleasant arithmetic
    Using simple calculations based on the figures published in the 2021–2024 Updated Stability Program (SP), it is clear that, with the assumptions contained in the SP, we will need a very ambitious roadmap to change certain long-term trends in public accounts.

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    May 4, 2021

    Spain | What impacts will the increase in the cost of oil have?
    Although historical evidence tells us that the increase in fuel prices observed over the last few months could considerably slow down recovery (by around one percentage point according to BBVA Research), there is reason to think that this time could be different.

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