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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.

August 31, 2021

Spain | Domestic tourism: riding to the industry's rescue

Those sectors of the Spanish economy most dependent on the movement of people have been among the most severely hit by the COVID-19 crisis — in particular domestic and foreign tourism.

January 25, 2021

Spain | The Golden Rule

Household savings increased significantly during the second quarter of 2020, reaching 24.4% of gross disposable income. That is more than double the previous high seen in 2009. There are several reasons for this.

July 20, 2020

Spain | This Time It's Different

The origins of the country's recession lie not in the accumulation of imbalances in a certain market and the usual subsequent shift in demand, but rather in a pandemic and the restrictions enforced on the supply of goods and services to limit its spread.

August 28, 2019

Mexico | GDP measured by the demand side and the supply side tells a different story

The matching of GDP growth rates measured by expenditure components and that measured by production value has deteriorated consistently, and recently more sharply.

December 18, 2018

Mexico | 2019 fiscal budget: the government approves its first big test

The fiscal package is sound in macroeconomic terms but introduces some microeconomic distortions. It is built on reasonable and market-aligned economic assumptions. Revenue and spending projections are conservative. As we expected, market reaction was slightly positive.

May 18, 2018

Mexico is going to need fiscal legislation that is actually complied with

The country has made great advances in the last twenty or so years in designing an institutional framework that contributes towards having well-ordered public finances. In 2006 the Federal Budget and Fiscal Responsibility Act was passed.

April 5, 2018

The Pension System in 2017and the Revaluation Index in2018

Last week, the budget balance of Spanish public administrations and the situation of the Social Security accounts at 2017 year-end were released. This very useful information can be used to update the change in various components of the theoretical Pension Revaluation Index (IRP from its Spanish initials) for 2018.