September 2018 | No. 426

September 2018 | No. 426

Editorial

Lessons from Greece

Enric Fernández

Key points of the month

Global uncertainty begins to take its toll

Forecasts and indicators

Indicators and forecasts

Financial markets

Volatility and the financial markets diverge in summer
Does the Fed control interest rates?
Ricard Murillo Gili
Can we predict volatility spikes and their consequences?
Adrià Morron Salmeron

International economy

The emerging markets suffer while the US shifts up a gear
European Council: a lot of talk but little action
Roser Ferrer
China’s economic policies: tightening, but not too much
Javier García Arenas

European economy

Spanish economy

The economy enters a more mature phase of the cycle
Consumer lending: excess or normalisation?
Ariadna Vidal Martínez
Is Spain importing as much as it used to?
Jordi Singla

Dossier

The benefits and costs of globalisation
Clàudia Canals
The challenge of America First for globalisation: threat or opportunity?
Àlex Ruiz
The challenges of financial globalisation
Roser Ferrer
Globalisation at a historic crossroads: deglobalisation or reglobalisation?
Javier García Arenas

September 2018| No. 426

Dossier

Globalisation at the crossroads

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Editorial

Lessons from Greece

Enric Fernández

Key points of the month

Global uncertainty begins to take its toll

Forecasts and indicators

Forecasts Key indicators financial markets Key indicators international economy Key indicators European Union Key indicators Spanish economy

Financial markets

Economic outlook

Volatility and the financial markets diverge in summer

Focus

Does the Fed control interest rates?

Ricard Murillo Gili

Focus

Can we predict volatility spikes and their consequences?

Adrià Morron Salmeron

International economy

Economic outlook

The emerging markets suffer while the US shifts up a gear

Focus

European Council: a lot of talk but little action

Focus

China’s economic policies: tightening, but not too much

Javier García Arenas

European economy

Economic outlook

Slowdown in growth in the euro area

Focus

Portugal: a booming real estate market

Focus

Portugal: evaluating the country through tourism

Spanish economy

Economic outlook

The economy enters a more mature phase of the cycle

Focus

Consumer lending: excess or normalisation?

Ariadna Vidal Martínez

Focus

Is Spain importing as much as it used to?

Jordi Singla

Dossier

Globalisation at the crossroads

Focus

Globalisation at a historic crossroads: deglobalisation or reglobalisation?

Javier García Arenas

Focus

The benefits and costs of globalisation

Clàudia Canals

Focus

The challenge of America First for globalisation: threat or opportunity?

Àlex Ruiz

Focus

The challenges of financial globalisation