Publications

The recent appreciation of the euro against the dollar—more than 10% since the lows at the beginning of the year—has shifted the price competitiveness of Spanish companies and the purchasing power of households.

Spain is facing increasing water stress as a result of climate change. Droughts are lasting longer, rainfalls are getting heavier, heatwaves are more frequent and wildfires are more destructive.

In this publication you will find, on a weekly basis, our selection of the most relevant news regarding financial regulation.

Investment in intangible assets is a key driver of economic growth in Spain. Using financial transaction data, we build a real-time indicator aligned with official statistics that allows for detailed analysis of investment flows across sectors and regions. They show growth is concentrated in a few specialized hubs.

Amid rising global uncertainty, trade tensions with the United States are resurfacing. As background, in 2018 the EU responded to Trump's tariffs by imposing levies of 25% on more than 180 products. This had a lasting effect on the pattern of Spanish imports, although the overall economic impact remained limited.

Spain's problem is not a shortage of savings, but insufficient investment. The challenge is to channel these savings, both domestic and European, into productive projects capable of generating a return, while creating quality employment and societal growth.

We examine the transmission of monetary policy shocks to the macroeconomy at high frequency. To do this, we build daily consumption and investment aggregates using bank transaction records and leverage administrative data for measures of daily gross output and employment for Spain.

Spain and Europe face critical water resilience challenges due to climate threats, requiring strategic investments and policy actions to safeguard ecosystems, promote economic opportunities, and ensure long-term water supply sustainability.