Publications

In 2024, La Rioja's GDP could have grown by 3.3%, and is expected to increase by 2.5% in 2025 and 1.4% in 2026. Going forward, the evolution of activity will be marked by high uncertainty regarding economic and tariff policies and the slow recovery in Europe.

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.

Spanish public debt will come down very slowly over the coming years and is at risk of stagnating at around 100% of GDP. It seems that the extraordinary conditions that helped it come down have been squandered to promote reforms that would lead to a more robust path of fiscal consolidation.

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.

In June, Social Security enrollment rose by 76,700 and unemployment fell by 48,900. Seasonally adjusted, contributors increased by 35,400 and the jobless declined by 15,400. In Q2 2025, employment grew 0.6% QoQ and unemployment dropped 1.9%, as in Q1.

In 2024, Castilla y León's GDP could have grown by 3.4%, and is forecast to increase by 2.0% in 2025 and 1.5% in 2026. Going forward, the evolution of activity will be marked by high economic and tariff policy uncertainty and the slow recovery in Europe.

This Working Paper briefly describes the latest update made to the sectoral module of the RegData FEDEA-BBVA database, 1955-2023.

While the Iberian day-ahead market operated normally after the April 2025 blackout, May saw an increase in REE's security-driven balancing costs. These measures, implemented to reduce systemic risk, led to higher wholesale prices, highlighting the inherent trade-off between reliability and affordability.