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June 6, 2019

What is the cyclical position of the Spanish economy?

Over the last few months, there has been an interesting debate on the cyclical position of the Spanish economy, its potential growth and the output gap.

January 8, 2019

Risks facing the Spanish economy in 2019

The Spanish economy will have grown between 0.4% and 0.5% less in 2018 than in 2017 (+3%), with indications that the slowdown will continue in 2019, in a context of increased uncertainty.

January 2, 2019

Spain's Galicia region will once again grow more than the country as a whole in 2019

Galicia has been, in recent years, one of Spain's most dynamic regional economies. According to data from Spanish Regional Accounting, it is the region with the third highest cumulative growth between 2015 and 2017. Thus, it is just below Catalonia and Murcia, and above others such as Madrid, Castile-La Mancha and the Bale…

November 13, 2017

Uncertain impact of uncertainty

The economic impact of the tensions currently being experienced in Catalonia is difficult to gauge. One way in which attempts have been made to do so is by constructing indices that seek to calibrate the level of uncertainty felt by households and businesses.

November 6, 2017

Pianissimo

In October economists Olivier Blanchard and Larry Summers coordinated a conference on “Rethinking macroeconomic policy”, a debating forum on the challenges posed for economic policy by the new environment of low levels of inflation and interest rates combined with slow growth in productivity and increasing inequality.

February 15, 2016

Rational Expectations

I am part of a cult. At least that is the perception of many economists when I tell them that I studied for my Ph.D. in Minnesota. Since 2000, 6 people who studied or pursued the most important part of their research agenda at the Faculty of Economics of the University of Minnesota have won the Nobel Prize.