Pilar Más Rodríguez
Pilar Más Rodríguez
Principal Economist

Pilar Más is a Principal Economist at BBVA Research, where she works on economic analysis and research on Climate Change and Sustainability, aligned with BBVA's strategic priority.

Pilar has worked in the Spain and Portugal team at BBVA Research, on macroeconomic, sectoral and fiscal analysis for the Spanish economy.

Previously, she spent a large part of her professional career in the Spanish Public Administration and, in particular, in the Ministry of Economy, where she held several management positions. She was Director General for Macroeconomic Analysis and International Finance and Executive Advisor at the Spanish Treasury.

She led the representation of Spain in the Economic Policy Committees of the European Union and of the OECD, as well as in the main multilateral banks, including the World Bank Group, the Inter-American Development Bank (IDB) and CAF-Development Bank of Latin America, among others.

She has been a Member of the Higher Statistics Council; of the Inter-territorial Commission for Development Cooperation and of the Board of Trustees of the Spanish Foundation for International Cooperation, Health and Social Policy. Member of the Management Board of the ‘Centro para el Desarrollo Tecnológico Industrial (CDTI)’, of the ‘Sociedad Estatal España. Expansión Exterior S.A.’ and of the ‘Comisionado del Mercado de Tabacos’.

She has a degree in Mathematics from the Complutense University of Madrid, a degree in Economics from the National University of Distance Education (UNED), a Master´s degree in Public Management from the Institute for Fiscal Studies and the School of Industrial Organization (EOI) and an Executive Development Program by IESE. She is a member of the Higher Board of Central Government Statisticians.

In the academic field, she has been Associate Professor of Degree at Complutense University of Madrid and Associate Professor of Master Degree at University of Alcalá. She has been a speaker in national and international conferences and seminars about economy and finance.

Latest publications

The analysis of how climate-related acute physical events affect the economy must consider their unique aspects: brief duration and specific localization. Geographic Information Systems (GIS) are instrumental in this analysis, for which three case studies are shown.
The increasing development of short-term climate scenarios is driven by enhanced supervisory expectation for a comprehensive understanding of the effects of climate change. Their design is a work in progress blending narratives, shocks and modeling tools.
The intensity of GHG emissions in scope 3 of the sectors of activity of the Spanish economy, estimated by BBVA Research with input-output analysis, generally maintains a downward trend, with notable advances in intensive sectors subject to the EU Emissions Trading System (EU ETS).