How do mergers affect productivity and markups across the economy? Tracking 3,759 Spanish mergers from 1997 to 2022, we find average increases of 2% and 4%. Productivity gains are broad-based across industries; markup increases are concentrated in a few. ➡️ www.bde.es/wbe/en/publi... #bdeResearch
September 29, 2026 at 9:12 AM
How do mergers affect productivity and markups across the economy? Tracking 3,759 Spanish mergers from 1997 to 2022, we find average increases of 2% and 4%. Productivity gains are broad-based across industries; markup increases are concentrated in a few. ➡️ www.bde.es/wbe/en/publi... #bdeResearch
Why did the dollar weaken while long-term Treasury yields rose after the April 2025 U.S. tariff announcements? We show the episode reflected several distinct macro-financial shocks rather than a single tariff shock, identified using heteroskedasticity. ➡️ www.bde.es/wbe/en/publi...
#bdeResearch
#bdeResearch
September 24, 2026 at 11:12 AM
Why did the dollar weaken while long-term Treasury yields rose after the April 2025 U.S. tariff announcements? We show the episode reflected several distinct macro-financial shocks rather than a single tariff shock, identified using heteroskedasticity. ➡️ www.bde.es/wbe/en/publi...
#bdeResearch
#bdeResearch
How do oil supply news shocks propagate through the economy? This paper develops a flexible framework that lets nonlinear transmission emerge from the data. Main finding: adverse shocks have larger effects on activity and employment than favorable shocks www.bde.es/wbe/en/publi... #bdeResearch
September 3, 2026 at 3:18 PM
How do oil supply news shocks propagate through the economy? This paper develops a flexible framework that lets nonlinear transmission emerge from the data. Main finding: adverse shocks have larger effects on activity and employment than favorable shocks www.bde.es/wbe/en/publi... #bdeResearch
📢 Call for Papers | 7th Conference on Diversity, Equity & Inclusion in Economics, Finance and Central Banking | 22-23 March 2027
Submit your research on diversity, equity and inclusion by 30 October 2026 ➡️ www.bancaditalia.it/media/agenda...
#bdeResearch
Submit your research on diversity, equity and inclusion by 30 October 2026 ➡️ www.bancaditalia.it/media/agenda...
#bdeResearch
September 2, 2026 at 8:36 AM
📢 Call for Papers | 7th Conference on Diversity, Equity & Inclusion in Economics, Finance and Central Banking | 22-23 March 2027
Submit your research on diversity, equity and inclusion by 30 October 2026 ➡️ www.bancaditalia.it/media/agenda...
#bdeResearch
Submit your research on diversity, equity and inclusion by 30 October 2026 ➡️ www.bancaditalia.it/media/agenda...
#bdeResearch
Does the average response of inflation to oil supply shocks mask a more fundamental risk to price stability? We show oil supply shocks persistently generate upside risks to inflation in the US, EA & UK. #bdeResearch ➡️ www.bde.es/wbe/en/publi...
August 5, 2026 at 10:30 AM
Does the average response of inflation to oil supply shocks mask a more fundamental risk to price stability? We show oil supply shocks persistently generate upside risks to inflation in the US, EA & UK. #bdeResearch ➡️ www.bde.es/wbe/en/publi...
How does digitalization affect credit markets? This new paper studies the TicketBAI’s eInvoicing reform using loan-level data. Main finding: eInvoicing reshapes both credit allocation and banks’ risk assessments www.bde.es/wbe/en/publi... #bdeResearch
July 7, 2026 at 1:53 PM
How does digitalization affect credit markets? This new paper studies the TicketBAI’s eInvoicing reform using loan-level data. Main finding: eInvoicing reshapes both credit allocation and banks’ risk assessments www.bde.es/wbe/en/publi... #bdeResearch
Evidence for Spain (2004–2023): higher markups, stable competition. ➡️ ➡️ www.bde.es/wbe/es/publi... #BdeResearch
June 30, 2026 at 9:58 AM
Evidence for Spain (2004–2023): higher markups, stable competition. ➡️ ➡️ www.bde.es/wbe/es/publi... #BdeResearch
Next research seminar: Benjamin Born will be presenting "The impact of interest: Firms’ investment sensitivity to interest rates” on June 30, 12:00 CET ➡️ www.bde.es/wbe/en/areas... #bdeResearch
June 26, 2026 at 9:35 AM
Next research seminar: Benjamin Born will be presenting "The impact of interest: Firms’ investment sensitivity to interest rates” on June 30, 12:00 CET ➡️ www.bde.es/wbe/en/areas... #bdeResearch
Next research seminar: Joana Silva (World Bank) will be presenting "Building Human Capital Where It Matters: Homes, Neighborhoods, and Workplaces” on June 17, 12:00 CET ➡️ www.bde.es/wbe/en/areas... #bdeResearch
June 16, 2026 at 9:50 AM
Next research seminar: Joana Silva (World Bank) will be presenting "Building Human Capital Where It Matters: Homes, Neighborhoods, and Workplaces” on June 17, 12:00 CET ➡️ www.bde.es/wbe/en/areas... #bdeResearch
Next research seminar: Christoph Albert (Collegio Carlo Alberto) will be presenting "Business Cycles, Competition and the Labor Market Assimilation of Immigrants: Evidence from Spain” on June 17, 12:00 CET ➡️ www.bde.es/wbe/en/areas... #bdeResearch
June 15, 2026 at 9:37 AM
Next research seminar: Christoph Albert (Collegio Carlo Alberto) will be presenting "Business Cycles, Competition and the Labor Market Assimilation of Immigrants: Evidence from Spain” on June 17, 12:00 CET ➡️ www.bde.es/wbe/en/areas... #bdeResearch
Next research seminar: James Hansen will be presenting "The Equity Premium, Long-run Risk, and Asymmetric Optimal Monetary Policy” on June 10, 12:00 CET www.bde.es/wbe/en/areas... #bdeResearch
June 4, 2026 at 8:00 AM
Next research seminar: James Hansen will be presenting "The Equity Premium, Long-run Risk, and Asymmetric Optimal Monetary Policy” on June 10, 12:00 CET www.bde.es/wbe/en/areas... #bdeResearch
Next research seminar: Pascuale Della Corte (Imperial College London) will be presenting " Beyond Bilateral Flows: Indirect Connections and Exchange Rates ” on June 03, 12:00 CET. ➡️ www.bde.es/wbe/en/areas... #bdeResearch
June 1, 2026 at 8:00 AM
Next research seminar: Pascuale Della Corte (Imperial College London) will be presenting " Beyond Bilateral Flows: Indirect Connections and Exchange Rates ” on June 03, 12:00 CET. ➡️ www.bde.es/wbe/en/areas... #bdeResearch
Next research seminar: Maximilian Konradt (Imperial College Business School) will be presenting "Green Business Cycles” on May 28, 12:00 CET. ➡️ www.bde.es/wbe/en/areas... #bdeResearch
May 26, 2026 at 8:00 AM
Next research seminar: Maximilian Konradt (Imperial College Business School) will be presenting "Green Business Cycles” on May 28, 12:00 CET. ➡️ www.bde.es/wbe/en/areas... #bdeResearch
Next research seminar: João Pereira dos Santos (ISEG) will be presenting "Sailing through troubled waters: Evidence from support discontinuities to firms in times of crisis” on May 25, 10:00 CET. www.bde.es/wbe/en/areas... #bdeResearch
May 21, 2026 at 9:05 AM
Next research seminar: João Pereira dos Santos (ISEG) will be presenting "Sailing through troubled waters: Evidence from support discontinuities to firms in times of crisis” on May 25, 10:00 CET. www.bde.es/wbe/en/areas... #bdeResearch
Next research seminar: Ferran Elias (Universitat de Girona) will be presenting "The Extension of Collective Agreements in Fissured Workplaces: Wage Premiums, Spillovers and Rent-Sharing” on May 19, 12:00 CET ➡️ www.bde.es/wbe/en/areas... #bdeResearch
May 14, 2026 at 8:11 AM
Next research seminar: Ferran Elias (Universitat de Girona) will be presenting "The Extension of Collective Agreements in Fissured Workplaces: Wage Premiums, Spillovers and Rent-Sharing” on May 19, 12:00 CET ➡️ www.bde.es/wbe/en/areas... #bdeResearch
Next research seminar: Ethan Ilzetzki (LSE) will be presenting "GI Jobs in GE: The macroeconomic effects of defense employment” on May 13, 12:00 CET. www.bde.es/wbe/en/areas... #bdeResearch
May 11, 2026 at 8:00 AM
Next research seminar: Ethan Ilzetzki (LSE) will be presenting "GI Jobs in GE: The macroeconomic effects of defense employment” on May 13, 12:00 CET. www.bde.es/wbe/en/areas... #bdeResearch
Banks’ market power shaped the euro-era tightening: weak pass-through on deposits led to sharper credit cuts for riskier firms, higher loan rates, and better returns. The deposit channel pushes banks to optimize risk return, reversing ZLB search for yield. ▶️ www.bde.es/wbe/en/publi... #bdeResearch
May 7, 2026 at 11:31 AM
Banks’ market power shaped the euro-era tightening: weak pass-through on deposits led to sharper credit cuts for riskier firms, higher loan rates, and better returns. The deposit channel pushes banks to optimize risk return, reversing ZLB search for yield. ▶️ www.bde.es/wbe/en/publi... #bdeResearch
Next research seminar: Marta Cota (Nova SBE) will be presenting "Is Knowledge Enough? Financial Literacy, Marriage, and Gender Differences in Wealth” on May 6, 12:00 CET. www.bde.es/wbe/en/areas... #bdeResearch
May 4, 2026 at 8:29 AM
Next research seminar: Marta Cota (Nova SBE) will be presenting "Is Knowledge Enough? Financial Literacy, Marriage, and Gender Differences in Wealth” on May 6, 12:00 CET. www.bde.es/wbe/en/areas... #bdeResearch
Next research seminar: Karsten Müller (NUS)) will be presenting “Two Centuries of Systemic Bank Runs” on April 29, 12:00 CET. www.bde.es/wbe/en/areas... #bdeResearch
April 28, 2026 at 9:36 AM
Next research seminar: Karsten Müller (NUS)) will be presenting “Two Centuries of Systemic Bank Runs” on April 29, 12:00 CET. www.bde.es/wbe/en/areas... #bdeResearch
When uncertainty indicators disagree, what are they really telling us? We use news-based topic indices to show why EPU and VIX/CLIFS diverge, and what that reveals about the economy. www.bde.es/wbe/en/publi... #bdeResearch
April 20, 2026 at 9:10 AM
When uncertainty indicators disagree, what are they really telling us? We use news-based topic indices to show why EPU and VIX/CLIFS diverge, and what that reveals about the economy. www.bde.es/wbe/en/publi... #bdeResearch
Next research seminar: Juan José Dolado (UC3M) will be presenting “Riders on the Storm” on April 16, 12:00 CET. www.bde.es/wbe/en/areas... #bdeResearch
April 16, 2026 at 8:38 AM
Next research seminar: Juan José Dolado (UC3M) will be presenting “Riders on the Storm” on April 16, 12:00 CET. www.bde.es/wbe/en/areas... #bdeResearch
We will host the 18th Workshop Banco de España-CEMFI on April 20th. See the program below www.bde.es/wbe/en/notic...
#bdeResearch
#bdeResearch
April 14, 2026 at 12:38 PM
We will host the 18th Workshop Banco de España-CEMFI on April 20th. See the program below www.bde.es/wbe/en/notic...
#bdeResearch
#bdeResearch
Next research seminar: Frederic Vermeulen (KU Leuven) will be presenting “Spouses with benefits: on match quality and consumption inside households” on April 15, 12:00 CET. www.bde.es/wbe/en/areas... #bdeResearch
April 14, 2026 at 9:45 AM
Next research seminar: Frederic Vermeulen (KU Leuven) will be presenting “Spouses with benefits: on match quality and consumption inside households” on April 15, 12:00 CET. www.bde.es/wbe/en/areas... #bdeResearch
Banco de España will host the 1st Workshop on Financial Intermediation on 7 May 2026 at its Madrid headquarters. The event features six research papers, each with an assigned discussant, and a keynote speech by Prof. Rajkamal Iyer. Programme: 👉 www.bde.es/f/webbe/INF/... #bdeResearch
April 13, 2026 at 10:15 AM
Banco de España will host the 1st Workshop on Financial Intermediation on 7 May 2026 at its Madrid headquarters. The event features six research papers, each with an assigned discussant, and a keynote speech by Prof. Rajkamal Iyer. Programme: 👉 www.bde.es/f/webbe/INF/... #bdeResearch
Next research seminar: Thomas Drechsel (University of Maryland, NBER & CEPR) will be presenting “The Macroeconomic Effects of Bank Regulation: New Evidence from a High-Frequency Approach” on March 17, 10:30 CET. www.bde.es/wbe/en/areas... #bdeResearch
March 16, 2026 at 9:00 AM
Next research seminar: Thomas Drechsel (University of Maryland, NBER & CEPR) will be presenting “The Macroeconomic Effects of Bank Regulation: New Evidence from a High-Frequency Approach” on March 17, 10:30 CET. www.bde.es/wbe/en/areas... #bdeResearch