http://www.bis.org/cbhub/list/country/country_spain/index.rss Latest research hub papers from Spain en http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/13/Fich/dt1306e.pdf Bank of Spain Working Papers by Fernando López Vicente The effect of foreclosure regulation: evidence for the US mortgage market at state level 2013-05-14T12:35:00Z The effect of foreclosure regulation: evidence for the US mortgage market at state level 2013-05-14T12:35:00Z Full text http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/13/Fich/dt1306e.pdf Fernando López Vicente Fernando López Vicente 2013-05 Bank of Spain Working Papers http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/13/Fich/dt1307e.pdf Bank of Spain Working Papers by Enrique Moral-Benito and Luis Serven Testing weak exogeneity in cointegrated panels 2013-05-10T12:52:59Z Testing weak exogeneity in cointegrated panels 2013-05-10T12:52:59Z Full text http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/13/Fich/dt1307e.pdf Luis Servén Enrique Moral-Benito Enrique Moral-Benito and Luis Serven 2013-05 Bank of Spain Working Papers http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/13/dt1305e.pdf Bank of Spain Working Papers by Carlos Pérez Montes Estimation of regulatory credit risk models 2013-03-27T18:01:00Z Estimation of regulatory credit risk models 2013-03-27T18:01:00Z Full text http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/13/dt1305e.pdf Carlos Pérez Montes Carlos Pérez Montes 2013-03 Bank of Spain Working Papers http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/13/Fich/dt1303e.pdf Bank of Spain Working Papers by Miguel García-Posada and Juan S. Mora-Sanguinetti Firm size and judicial efficacy: evidence for the new civil procedures in Spain 2013-02-26T12:43:00Z Firm size and judicial efficacy: evidence for the new civil procedures in Spain 2013-02-26T12:43:00Z Full text http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/13/Fich/dt1303e.pdf Miguel García-Posada Juan S. Mora-Sanguinetti Miguel García-Posada and Juan S. Mora-Sanguinetti 2013-02 Bank of Spain Working Papers K40 L25 R12 http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/13/Fich/dt1304e.pdf Bank of Spain Working Papers by Maximo Camacho and Gabriel Perez-Quiros Commodity prices and the business cycle in Latin America: living and dying by commodities? 2013-02-26T12:43:00Z Commodity prices and the business cycle in Latin America: living and dying by commodities? 2013-02-26T12:43:00Z Full text http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/13/Fich/dt1304e.pdf Gabriel Pérez-Quirós Maximo Camacho Maximo Camacho and Gabriel Perez-Quiros 2013-02 Bank of Spain Working Papers E32 F44 http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/13/Fich/dt1302e.pdf Bank of Spain Working Papers by Miguel García-Posada Insolvency institutions and efficiency: the Spanish case 2013-02-08T12:37:59Z Insolvency institutions and efficiency: the Spanish case 2013-02-08T12:37:59Z Full text http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/13/Fich/dt1302e.pdf Miguel García-Posada Miguel García-Posada 2013-02 Bank of Spain Working Papers http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/13/Fich/dt1301e.pdf Bank of Spain Working Papers by James Costain and Anton Nakov Logit price dynamics 2013-02-06T12:56:00Z Logit price dynamics 2013-02-06T12:56:00Z Full text http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/13/Fich/dt1301e.pdf James Costain Anton Nakov James Costain and Anton Nakov 2013-02 Bank of Spain Working Papers http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1242e.pdf Bank of Spain Working Papers by Giancarlo Corsetti, Luca Dedola and Francesca Viani Traded and nontraded goods prices, and international risk sharing: an empirical investigation 2012-12-27T12:37:00Z Traded and nontraded goods prices, and international risk sharing: an empirical investigation 2012-12-27T12:37:00Z Full text http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1242e.pdf Giancarlo Corsetti Francesca Viani Luca Dedola Giancarlo Corsetti, Luca Dedola and Francesca Viani 2012-12 Bank of Spain Working Papers http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1243e.pdf Bank of Spain Working Papers by Enrique Moral-Benito Growth empirics in panel data under model uncertainty and weak exogeneity 2012-12-27T12:37:00Z Growth empirics in panel data under model uncertainty and weak exogeneity 2012-12-27T12:37:00Z Full text http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1243e.pdf Enrique Moral-Benito Enrique Moral-Benito 2012-12 Bank of Spain Working Papers http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1241e.pdf Bank of Spain Working Papers by Matteo Ciccarelli, Eva Ortega and Maria Teresa Valderrama Heterogeneity and cross-country spillovers in macroeconomic-financial linkages 2012-12-21T12:39:00Z Heterogeneity and cross-country spillovers in macroeconomic-financial linkages 2012-12-21T12:39:00Z Full text http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1241e.pdf Maria Teresa Valderrama Eva Ortega Matteo Ciccarelli Matteo Ciccarelli, Eva Ortega and Maria Teresa Valderrama 2012-12 Bank of Spain Working Papers http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1240e.pdf Bank of Spain Working Papers by Maria Dolores Gadea Rivas and Gabriel Perez-Quiros The failure to predict the Great Recession. The failure of academic economics? A view focusing on the role of credit 2012-12-17T12:37:00Z The failure to predict the Great Recession. The failure of academic economics? A view focusing on the role of credit 2012-12-17T12:37:00Z Full text http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1240e.pdf Gabriel Pérez-Quirós Maria Dolores Gadea Rivas Maria Dolores Gadea Rivas and Gabriel Perez-Quiros 2012-12 Bank of Spain Working Papers C32 E32 http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1239e.pdf Bank of Spain Working Papers by Alfredo Martín-Oliver, Sonia Ruano and Vicente Salas-Fumás Why did high productivity growth of banks precede the financial crisis? 2012-12-12T12:37:00Z Why did high productivity growth of banks precede the financial crisis? 2012-12-12T12:37:00Z Full text http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1239e.pdf Alfredo Martín-Oliver Vicente Salas-Fumás Sonia Ruano Alfredo Martín-Oliver, Sonia Ruano and Vicente Salas-Fumás 2012-12 Bank of Spain Working Papers http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1238e.pdf Bank of Spain Working Papers by Cristiano Cantore; Filippo Ferroni; Miguel A. León-Ledesma The dynamics of hours workedand technology 2012-11-05T12:37:59Z The dynamics of hours workedand technology 2012-11-05T12:37:59Z Full text http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1238e.pdf Cristiano Cantore Filippo Ferroni Miguel A. León-Ledesma Cristiano Cantore; Filippo Ferroni; Miguel A. León-Ledesma 2012-11 Bank of Spain Working Papers http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1237e.pdf Bank of Spain Working Papers by Sofía Galán and Sergio Puente Minimum wages: do they really hurt young people? 2012-10-11T12:37:00Z Minimum wages: do they really hurt young people? 2012-10-11T12:37:00Z Full text http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1237e.pdf Sergio Puente Sofía Galán Sofía Galán and Sergio Puente 2012-10 Bank of Spain Working Papers http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1235e.pdf Bank of Spain Working Papers by Maximo Camacho, Yuliya Lovcha and Gabriel Perez-Quiros Can we use seasonally adjusted indicators in dynamic factor models? 2012-10-10T12:35:00Z Can we use seasonally adjusted indicators in dynamic factor models? 2012-10-10T12:35:00Z Full text http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1235e.pdf Gabriel Pérez-Quirós Yuliya Lovcha Maximo Camacho Maximo Camacho, Yuliya Lovcha and Gabriel Perez-Quiros 2012-10 Bank of Spain Working Papers http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1236e.pdf Bank of Spain Working Papers by Jens Hagendorff, María J. Nieto and Larry D. Wall The safety and soundness effects of bank M&As in the EU: Does prudential regulation have any impact? 2012-10-10T12:35:00Z The safety and soundness effects of bank M&As in the EU: Does prudential regulation have any impact? 2012-10-10T12:35:00Z Full text http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1236e.pdf Larry D. Wall María J. Nieto Jens Hagendorff Jens Hagendorff, María J. Nieto and Larry D. Wall 2012-10 Bank of Spain Working Papers http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1234e.pdf Bank of Spain Working Papers by Miguel García-Posada and Juan S. Mora-Sanguinetti Why do Spanish firms rarely use the bankruptcy system? The role of the mortgage institution 2012-09-25T12:37:59Z Why do Spanish firms rarely use the bankruptcy system? The role of the mortgage institution 2012-09-25T12:37:59Z Full text http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1234e.pdf Miguel García-Posada Juan S. Mora-Sanguinetti Miguel García-Posada and Juan S. Mora-Sanguinetti 2012-09 Bank of Spain Working Papers http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1233e.pdf Bank of Spain Working Papers by Rossana Merola and Javier J. Pérez Fiscal forecast errors: governments vs independent agencies? 2012-09-24T12:29:59Z Fiscal forecast errors: governments vs independent agencies? 2012-09-24T12:29:59Z Full text http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1233e.pdf Rossana Merola Javier J. Pérez Rossana Merola and Javier J. Pérez 2012-09 Bank of Spain Working Papers http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1231e.pdf Bank of Spain Working Papers by Aitor Erce Does the IMF's official support affect sovereign bond maturities? 2012-09-24T12:29:59Z Does the IMF's official support affect sovereign bond maturities? 2012-09-24T12:29:59Z Full text http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1231e.pdf Aitor Erce-Domínguez Aitor Erce 2012-09 Bank of Spain Working Papers http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1232e.pdf Bank of Spain Working Papers by Javier Mencía and Enrique Sentana Valuation of VIX derivatives 2012-09-24T12:29:59Z Valuation of VIX derivatives 2012-09-24T12:29:59Z Full text http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1232e.pdf Javier Mencía Enrique Sentana Javier Mencía and Enrique Sentana 2012-09 Bank of Spain Working Papers http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1230e.pdf Bank of Spain Working Papers by Matteo Luciani and David Veredas A model for vast panels of volatilities 2012-09-12T17:36:00Z A model for vast panels of volatilities 2012-09-12T17:36:00Z Full text http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1230e.pdf David Veredas Matteo Luciani Matteo Luciani and David Veredas 2012-09 Bank of Spain Working Papers http://www.bde.es/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1229e.pdf Bank of Spain Working Papers by Matteo Barigozzi, Roxana Halbleib and David Veredas Which model to match? 2012-08-14T16:16:00Z The asymptotic efficiency of indirect estimation methods, such as the efficient method of moments and indirect inference, depends on the choice of the auxiliary model. To date, this choice has been somewhat ad hoc and based on an educated guess. In this article we introduce a class of information criteria that helps the user to optimize the choice between nested and non-nested auxiliary models. They are the indirect analogues of the widely used Akaike-type criteria. A thorough Monte Carlo study based on two simple and illustrative models shows the usefulness of the criteria. Which model to match? 2012-08-14T16:16:00Z Full text http://www.bde.es/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1229e.pdf David Veredas Roxana Halbleib Matteo Barigozzi Matteo Barigozzi, Roxana Halbleib and David Veredas 2012-08 Bank of Spain Working Papers C13 C52 http://www.bde.es/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1228e.pdf Bank of Spain Working Papers by Yves Dominicy, Siegfried Hörmann, Hiroaki Ogata and David Veredas Marginal quantiles for stationary processes 2012-08-14T16:16:00Z We establish the asymptotic normality of marginal sample quantiles for S-mixing vector stationary processes. S-mixing is a recently introduced and widely applicable notion of dependence. Results of some Monte Carlo simulations are given. Marginal quantiles for stationary processes 2012-08-14T16:16:00Z Full text http://www.bde.es/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1228e.pdf Siegfried Hörmann Hiroaki Ogata David Veredas Yves Dominicy Yves Dominicy, Siegfried Hörmann, Hiroaki Ogata and David Veredas 2012-08 Bank of Spain Working Papers C01 http://www.bde.es/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1227e.pdf Bank of Spain Working Papers by Lorenzo Ricci and David Veredas TailCoR 2012-08-14T16:16:00Z We introduce TailCoR, a new measure for tail correlation that is a function of linear and non-linear correlations, the latter characterized by the tail index. TailCoR can be exploited in a number of fi nancial applications, such as portfolio selection where the investor faces risks of a linear and tail nature. Moreover, it has the following advantages: i) it is exact for any probability level as it is not based on tail asymptotic arguments (contrary to tail dependence coeffi cients), ii) it can be used in all tail scenarios (fatter, equal to or thinner than those of the Gaussian distribution), iii), it is distribution free, and iv) it is simple and no optimizations are needed. Monte Carlo simulations and calibrations reveal its goodness in fi nite samples. An empirical illustration using a panel of Euro area sovereign bonds shows that prior to 2009 linear correlations were in the vicinity of one and non-linear correlations were inexistent. Since the beginning of the crisis the linear correlations have decreased sharply, and non-linear correlations appeared and increased signifi cantly in 2010-2011. TailCoR 2012-08-14T16:16:00Z Full text http://www.bde.es/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1227e.pdf Lorenzo Ricci David Veredas Lorenzo Ricci and David Veredas 2012-08 Bank of Spain Working Papers C32 C51 G01 http://www.bde.es/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1226e.pdf Bank of Spain Working Papers by Carmen Broto The effectiveness of forex interventions in four Latin American countries 2012-07-04T12:37:59Z The effectiveness of forex interventions in four Latin American countries 2012-07-04T12:37:59Z Full text http://www.bde.es/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/12/Fich/dt1226e.pdf Carmen Broto Carmen Broto 2012-07 Bank of Spain Working Papers C34 F31 G15