Publications

The images of the floods that hit Valencia last October are still fresh in the collective memory. BBVA Research has developed an analytical framework to make the most of the available information and quantitatively assess both the impact and recovery after a climate disaster.

This note proposes a framework to estimate the employment effects of floods in Spain, combining imputed damage data with a spatial panel model. These extreme events cause job losses and regional spillovers, but timely aid mitigates them. The DANA in Valencia illustrates the frameworks' accuracy and its policy relevance.

One month after DANA (week from November 26 to December 2), the majority of indicators in the province of Valencia show a similar evolution to that observed in the rest of Spain, highlighting the acceleration shown in spending by foreigners, car registrations and the most affected municipalities.

Spending in the province of Valencia rebounded during the week of November 19 to 25. The growth differential with the rest of Spain became positive in most indicators, although the most affected municipalities still show significant falls.

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

During the week of November 12 to 18, the improvement trend in most spending indicators stopped. Growth rates have shown a similar behavior to that of the previous week, maintaining a negative gap with respect to the evolution observed in the rest of Spain.

Most indicators show an improvement in economic activity in Valencia during the week of November 5 to 11, although both the growth rates and, more importantly, the levels remain below what would have been observed without the DANA, particularly in the hardest-hit municipalities, where significant impacts are still evident.

The objective of the first issue of this weekly observatory is to contribute to monitoring the economic impact of DANA on families and companies in the affected areas, report on the relief provided by public policies and provide data that can help improve them.