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
Why does Europe need a Capital Markets Union?

CaixaBank Research
Monetary policy in 2025: dialling-back time

CaixaBank Research
2025 Treasury strategy in a context of reduction of Spain’s public deficit

Javier García Arenas
Debt limits: 2025 edition

CaixaBank Research
Emerging economies: resilience after three global shocks

Beatriz Villafranca Serrano
Risk premiums and macroeconomics: a robust and cross-cutting relationship

CaixaBank Research
Treasury funding needs in 2026: high but manageable thanks to strong demand

Javier García Arenas
The transmission of the interest rate cycle to households in Spain: micro-level evidence of a moderate adjustment and gradual recovery

Josep Mestres Domènech Javier García Arenas Alberto Graziano Eduard Alcobé Garcia
What markets tell us about macroeconomics

Isabela Lara White Jesús Manuel Carrera Moreno
Warsh’s Fed: from guiding expectations to managing them without commitment

David del Val
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?

Recent developments

Is there light at the end of the tunnel? The outlook for monetary policy in 2023

Antonio Montilla

Ricard Murillo Gili

16 Nov 2022

United Kingdom

Stormy waters in the UK, a warning to seafarers

Antonio Montilla

Rita Sánchez Soliva

14 Nov 2022

United States of America

US inflation: definitions and factors

Clàudia Canals

13 Oct 2022

Financial markets

The ECB and risk premia in the periphery

Eduard Llorens i Jimeno

Ricard Murillo Gili

12 Sep 2022

Financial markets

Questions and answers about the Euribor

Ricard Murillo Gili

Antonio Montilla

18 Jul 2022

Wages

Wage dynamics in Spain: are low and high wages growing at the same pace?

Josep Mestres Domènech

12 Jul 2022

Federal Reserve (Fed)

On the reduction of the central banks’ balance sheets

Antonio Montilla

Ricard Murillo Gili

10 Jun 2022

Wages

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

Josep Mestres Domènech

16 May 2022

Wages

Wage dynamics: another concern for the ECB?

Màxim Ventura Bolet

Ricard Murillo Gili

16 May 2022

Monetary policy

Fed and ECB, at different stages of the normalisation process

Ricard Murillo Gili

13 Apr 2022

Public sector

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

Javier García Arenas

Ricard Murillo Gili

14 Feb 2022

Financial markets

Monetary policy

Inflation

What goes up... must come down? The outlook for equities

Antonio Montilla

11 Feb 2022

The upcoming budget takes over from NGEU in the European Semester

Climate change and international tourist loyalty: new evidence for Spain

The Spanish economy after Hormuz

Is there light at the end of the tunnel? The outlook for monetary policy in 2023

Stormy waters in the UK, a warning to seafarers

US inflation: definitions and factors

The ECB and risk premia in the periphery

Questions and answers about the Euribor

Wage dynamics in Spain: are low and high wages growing at the same pace?

On the reduction of the central banks’ balance sheets

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

Wage dynamics: another concern for the ECB?

Fed and ECB, at different stages of the normalisation process

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

What goes up... must come down? The outlook for equities