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In this first article in a series of two, we review the recent trends in capital investment in Spain and make a comparison with the rest of the euro area. In a second article in this same Monthly Report, we investigate the incentives for investing, based on an analysis of the evolution of profitability and the cost of financing, sector by sector.
Imelda is a senior economist in the Banking Strategy Department. With a Master's degree in Financial Markets from the Catholic Institute of Business Administration (ICADE), before joining CaixaBank she worked as director of financial systems at Bankia Research. Her main areas of research include the Spanish banking system, especially tracking business volumes, as well as the competitive and regulatory environment of the financial sector.
Erik holds the position of research assistant for the Department of Spanish Economy. He graduated with honors in Economics from the Universitat Autònoma de Barcelona and has a Master Degree in International Trade, Finance and Development from the Barcelona School of Economics.
Isabella holds the position of research assistant in the Strategic Planning Department. She has a degree in Economics from the Autonomous University of Barcelona and a master's degree in Specialized Economic Analysis: International Trade, Finance and Development from the Barcelona School of Economics.
Alberto is a Senior Data Scientist in the Spanish Economics Department. A graduate in Particle Physics from the University of Turin, he was involved in searching for the Higgs boson when working as a doctorate student (University of Turin) with CMS at CERN in Geneva and as a postdoctoral researcher (University of Cantabria). Before joining CaixaBank he worked for 3 years for the consultancy firm AIA and a further 2 years for KDP, a joint venture between CaixaBank and AIA. His work at CaixaBank focuses on exploiting large amounts of data, both internal and from public sources, using machine learning technologies.
Roser is a senior economist in the Strategic Planning Department. She earned an MSc in Economics with Distinction from University College London (UCL). Before joining the Banking Strategy Department, she worked as an economist for the Research Dpt. and, before that, as an economist at a boutique firm specialising in macroeconomics, as well as for a risk capital investment fund. Her areas of study include the impact of climate change and technology in the banking sector.
Oriol is an economist at the Spanish Economics Department. PhD in Economics by the London School of Economics (LSE) and MSc in Economics and Finance by Centro de Estudios Monetarios y Financieros (CEMFI). Before joining CaixaBank, he worked as economist specializing on UK and Southern Europe at the National Institute of Economics and Social Research (NIESR) and as graduate teaching assistant at the LSE. His main areas of expertise include macroeconomics, with an emphasis on fiscal policy, and specializes on model-based forecasts of Spanish GDP growth.
Carolina is Secretary to the Chief Economist, Enric Fernandez, as well as an Assistant in the Strategic Planning and Research Division. She has a degree in Journalism and a Master in Business Communication from Universitat Autònoma de Barcelona, and has experience in the field of communication in a range of industries. Since joining CaixaBank she has worked in the Communication, Business and Senior Management departments. What she likes most about her job is being able to help the team in every way possible, with a positive attitude and desire to improve. A fan of nature, reading and cooking, she loves outdoor sports.
Ana Maria is an Assistant in the Strategic Planning and Research Division and carries out a variety of tasks to help and support various projects. With studies in administration, telephony and hairdressing, she also has extensive experience in customer service and sales after having worked at Decathlon and Telepizza. While at the company Taler she got to know the administrative world of the office in depth. A person who is engaged, very optimistic and with a great willingness to learn and overcome challenges every day. She loves travelling, dancing and enjoying the company of friends and family.
At a time when many countries are beginning to gradually lift the lockdown measures, and with the first estimates of GDP for Q1 2020, we can begin to glimpse the impact of the social distancing measures on the economy in this second quarter of 2020.
COVID-19 and the social distancing measures imposed to curb its spread have forced a large number of people to telework. This is a practice which has been somewhat uncommon in our society to date, but which will no doubt persist long beyond the current pandemic. The shift from going to the office – where a large number of tasks are carried out that could easily be performed remotely – to teleworking has ramifications in many areas, ranging from the purely economic to the social. In this article, we focus on the economic sphere, and particularly on the impact of teleworking on productivity.
The recent recovery in emerging currencies is being interpreted either as the beginning of a more lasting regime change or a temporary upward trend. We explore the macroeconomic fundamentals and market dynamics to determine which side has the most arguments.
How is the economic crisis affecting the different strata of the population? Is it affecting us all equally? To what extent are the public sector support programmes cushioning the blow?