The rules versus discretion debate is back on the table, focusing not only this time on monetary policy (where central banks are having a hard time convincing the markets that inflation will return to target), but also on the reform of European fiscal rules.
spending latest publications
Filter all of our publications to find the ones you are most interested in by content language, date, geography and/or topic.
Sort our publications chronologically from newest to oldest, regardless of geography and/or topic matter.
Sort publications according to the number of time reads by our users, regardless of geography and/or topic matter.
Over the last two years we have witnessed numerous changes to the pension system in Spain, making it more generous, but less self-sufficient, with a larger structural deficit, no adjustment for increased life expectancy and greater dependence on transfers from the State.
Again, as in 1995, 2011 and 2013, uncertainty over whether the US Congress will raise the Federal Government's borrowing limit is beginning to cause concern in the financial markets, which could increase going forward.
More than a year and a half after the implementation of the Recovery, Transformation and Resilience Plan (PRTR), the excitement is turning into disappointment, as there is a perception that the funds are failing to reach households and business…
One of the best surprises of 2022 has been the recovery by tourism. However, there are reasonable doubts regarding the industry's future outlook. A downturn could have major implications for the economy.
Activity data reflect a negative balance for the last few months and, although inflation may have reached a turning point, this context of weak activity and rising prices poses a huge challenge for public policies.
This new Working Paper analyzes the trend in regional revenues and expenditure, including the sector’s budget balance and its debt position from 2003 through to the present day.
The European Central Bank (ECB) is preparing to raise interest rates in a bid to control inflation without triggering a recession. But can it control the consequences of its actions as we move forward?
Consumption continued its slowdown in March, despite the VAT-free day. Among the components, the slowdown was explained by services, with goods showing a slight advance. Nevertheless, the real growth rate remains high.
The short answer is everyone. Spain is a large importer of energy goods and commodities. Rising costs for these products results in a greater outflow of funds from our economy to the rest of the world.
Mass vaccination of the population and COVID-19 infection prevention measures have led to a considerable recovery of household spending, mainly in activities carried out in person and in contact with other people.
September 7, 2021
Spain | The trend in the common system of autonomous communities financing, 2002-2019
This Working Paper contains homogenized series of regional governments funding constructed on the basis of homogeneous competences at equal fiscal effort from 2002 to 2019.