Macrofinance

Will the ECB meet its new inflation target?

Ricard Murillo Gili
Savings and consumption in times of pandemic: a historical and international review

Adrià Morron Salmeron
Consumption and pent-up demand: what is the profile of the star consumer in the recovery?

Javier García Arenas Eduard Llorens i Jimeno Alberto Graziano Màxim Ventura Bolet
Which sectors have benefited the most from the pent-up demand?

Javier García Arenas Eduard Llorens i Jimeno Màxim Ventura Bolet
To borrow or not to borrow: a dilemma that depends on what was saved during the pandemic

Javier García Arenas Eduard Llorens i Jimeno Ariadna Vidal Martínez Màxim Ventura Bolet
The central banks’ response to the rebound in inflation(and the ECB’s inaction)

Ricard Murillo Gili
Emerging Markets monetary policy: tough times ahead

Beatriz Villafranca Serrano
The Treasury’s funding needs in 2022: within the right range thanks to the support from the ECB

Javier García Arenas Ricard Murillo Gili
What goes up... must come down? The outlook for equities

Antonio Montilla
Fed and ECB, at different stages of the normalisation process

Ricard Murillo Gili
Wage dynamics in Spain: what does the CaixaBank Research wage growth tracker tell us?

Josep Mestres Domènech
Wage dynamics: another concern for the ECB?

Màxim Ventura Bolet Ricard Murillo Gili
On the reduction of the central banks’ balance sheets

Antonio Montilla Ricard Murillo Gili
Questions and answers about the Euribor

Ricard Murillo Gili Antonio Montilla
Wage dynamics in Spain: are low and high wages growing at the same pace?

Josep Mestres Domènech
The ECB and risk premia in the periphery

Eduard Llorens i Jimeno Ricard Murillo Gili
US inflation: definitions and factors

Clàudia Canals
Stormy waters in the UK, a warning to seafarers

Antonio Montilla Rita Sánchez Soliva
Is there light at the end of the tunnel? The outlook for monetary policy in 2023

Antonio Montilla Ricard Murillo Gili
The big data dependence of the markets and monetary policy

Ricard Murillo Gili María Suárez Marañón
The impact of higher agricultural commodity prices on emerging and low-income countries

Beatriz Villafranca Serrano
The reduction of the ECB’s balance sheet in 2023
On the uncertainty of the neutral interest rate

Antonio Montilla Eduard Llorens i Jimeno
The Treasury’s strategy following the ECB’s retreat

Javier García Arenas
Energy: with 2022 behind us, will 2023 be as turbulent?

Beatriz Villafranca Serrano
On the round trip movement of the (king) dollar

Antonio Montilla
The appreciation of the dollar and American and European interest rates
Advanced economy housing markets in a scenario of tighter monetary policy (part I)
Advanced economy housing markets in a scenario of tighter monetary policy (part II)
Real estate sector: this time is different, in Spain

Oriol Aspachs
The Silicon Valley Bank intervention and its implications

Ricard Murillo Gili
Rising food prices in Spain: what lies ahead?

Javier Ibáñez de Aldecoa Fuster
Emerging markets amid US rate hikes and the recent financial turbulence

Rita Sánchez Soliva Beatriz Villafranca Serrano
Flexibility in times of uncertainty

José Ramón Díez
Financial stability considerations amid monetary tightening

David del Val Antonio Montilla
Is monetary policy managing to cool economic activity? A first assessment
Monetary policy has done (all?) the homework

Ricard Murillo Gili
European inflation: united in diversity

CaixaBank Research
The rebound in Spanish households’ savings and the buoyancy of gross disposable income: what is going on?

Javier García Arenas
A first assessment of the external vulnerability of emerging market economies

Rita Sánchez Soliva Beatriz Villafranca Serrano
Higher interest rates for longer

José Ramón Díez
Winds of change for monetary policy

José Ramón Díez
Changes in the financial markets’ monetary policy expectations

CaixaBank Research
2024 Treasury: the increased participation of domestic and non-resident investors will absorb the greater funding needs

Javier García Arenas
Risks in the US commercial real estate sector

Isabela Lara White
The era of low interest rates

Oriol Aspachs
The limits of monetary policy

Enric Fernández
How financial conditions are withstanding tighter monetary policy: part I

Adrià Morron Salmeron
How financial conditions are withstanding tighter monetary policy: part II

Adrià Morron Salmeron
The impact of financial conditions and vulnerabilities on growth

Adrià Morron Salmeron
The Fed: from forward guidance to data-dependency

Ricard Murillo Gili
The farewell of (Super) Mario Draghi

Adrià Morron Salmeron
The «sense and sensibility» of the ECB’s communication

Gabriel Ramos Adrià Morron Salmeron
The demographic cycle of savings and interest rates

Adrià Morron Salmeron
The central banks, at the helm of a more volatile environment

Adrià Morron Salmeron Ricard Murillo Gili
Low interest rates: for how much longer?

Oriol Carreras Baquer Adrià Morron Salmeron
The consequences of the new environment of financial conditions: entering uncharted territory

Javier García Arenas
Would a digital boost to productivity put an end to low interest rates?
The e-monetary policy of the new digital economy

Adrià Morron Salmeron Ricard Murillo Gili
Understanding the ECB: economics, politics and communication
What is the new equilibrium interest rate?
Monetary policy frameworks for the future
A new Fed Chair: a new attitude?

Adrià Morron Salmeron
Mario Draghi and his «parole, parole»

Adrià Morron Salmeron
Why has the Federal Reserve cut interest rates?

Ricard Murillo Gili
What margin for manoeuvre does economic policy have?

Adrià Morron Salmeron
The ECB and the Fed: two mandates, one target

Adrià Morron Salmeron Ricard Murillo Gili
The cost of negative rates: the case of the Riksbank

Adrià Morron Salmeron
The widespread fall in interest rates: a global trend

Adrià Morron Salmeron
The uncertainty surrounding the natural rate of interest

Adrià Morron Salmeron
The financial cycle and the era of low interest rates: a change of narrative?

Adrià Morron Salmeron Javier García Arenas Gabriel Ramos Pablo Pastor y Camarasa
The financial cycle: an essential tool for understanding the economy

Javier García Arenas
Yield curve control: a new tool for the Fed?

Ricard Murillo Gili
The macroeconomic fragility of interest rates

Adrià Morron Salmeron
The Fed’s new strategy

Ricard Murillo Gili Màxim Ventura Bolet Eduard Llorens i Jimeno
European public debt in the medium term: sustainability and challenges

Javier García Arenas Adrià Morron Salmeron
COVID-19 and country risk in the euro area: this time is different!

Eduard Llorens i Jimeno Àlex Ruiz
Will consumption support the US recovery in 2021?

Clàudia Canals Adrià Morron Salmeron
US stock market: rational exuberance?

Adrià Morron Salmeron Àlex Ruiz
Waiting for inflation

Adrià Morron Salmeron Javier García Arenas
The shadow of fiscal dominance

Adrià Morron Salmeron Javier García Arenas
Central bank independence: from the theory to the practice

Javier García Arenas Adrià Morron Salmeron
Central banks and digital currencies: a major challenge not without its difficulties

Javier García Arenas Adrià Morron Salmeron
Income and expenditure between generations in times of pandemic

Javier García Arenas Josep Mestres Domènech Eduard Llorens i Jimeno Alberto Graziano
Risks of overheating in the US and consequences for the euro area
The ECB’s holistic approach

Laura Becerra
Spain’s high public debt: outlook and priorities for ensuring a good digestion

Javier García Arenas Ricard Murillo Gili
Will inflation trigger new turbulences in the financial markets?

Ricard Murillo Gili
The rise in commodity prices and its impact on inflation

Beatriz Villafranca Serrano

Macrofinance

What factors will determine the evolution of interest rates, investment sentiment and macro-financial conditions in general?

Gráfico y periódico. Photo by Markus Spiske on Unsplash

Monetary policy

Risks of overheating in the US and consequences for the euro area

14 Jun 2021

Government debt

Spain’s high public debt: outlook and priorities for ensuring a good digestion

Javier García Arenas

Ricard Murillo Gili

11 Jun 2021

Demographics

Income and expenditure between generations in times of pandemic

Several authors

14 May 2021

Representación del concepto de euro digital

Economics & Markets

Central banks and digital currencies: a major challenge not without its difficulties

Javier García Arenas

Adrià Morron Salmeron

19 Apr 2021

Plancha de billetes de 100 dólares con las efigies con mascarilla

Economics & Markets

Central bank independence: from the theory to the practice

Javier García Arenas

Adrià Morron Salmeron

19 Apr 2021

Billetes de distintos países, con las efigies con mascarilla

Economics & Markets

The shadow of fiscal dominance

Adrià Morron Salmeron

Javier García Arenas

19 Apr 2021

Inflation

Waiting for inflation

Adrià Morron Salmeron

Javier García Arenas

15 Apr 2021

Detalle de la escultura del toro de Wall Street, NY.

Stock markets

US stock market: rational exuberance?

Adrià Morron Salmeron

Àlex Ruiz

12 Mar 2021

United States of America

Will consumption support the US recovery in 2021?

Clàudia Canals

Adrià Morron Salmeron

13 Jan 2021

Euro area

COVID-19 and country risk in the euro area: this time is different!

Eduard Llorens i Jimeno

Àlex Ruiz

13 Jan 2021

Government debt

European public debt in the medium term: sustainability and challenges

Javier García Arenas

Adrià Morron Salmeron

6 Oct 2020

Federal Reserve (Fed)

The Fed’s new strategy

Several authors

1 Oct 2020

Oil in the «era» of decarbonisation

An exceptional year for the catering sector in Spain

Innovation in Spain: somewhat below the EU

Risks of overheating in the US and consequences for the euro area

Spain’s high public debt: outlook and priorities for ensuring a good digestion

Income and expenditure between generations in times of pandemic

Central banks and digital currencies: a major challenge not without its difficulties

Central bank independence: from the theory to the practice

The shadow of fiscal dominance

Waiting for inflation

US stock market: rational exuberance?

Will consumption support the US recovery in 2021?

COVID-19 and country risk in the euro area: this time is different!

European public debt in the medium term: sustainability and challenges

The Fed’s new strategy