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The outbreak of the pandemic in 2020, and more recently the war in Ukraine, has accelerated the trend of decoupling between the US and China, and Europe also appears to have joined in, albeit somewhat timidly for now. We analyse the EU’s dependence on China in order to understand whether European strategic autonomy is possible, or even desirable.

In the current circumstances, each person’s perception of the economic situation is very different and may be heavily influenced by the sector in which they work or the region in which they live. Fortunately, we have data which we can use to check our impression of the economic reality.

The interaction of the dynamics (and imbalances) that had been at play since the outbreak of the pandemic, with the new reality in the face of heightened geopolitical instability and rising rates, comprise a new and challenging scenario in which households, businesses and governments alike will need to adapt their decisions.

What is expected in 2022 in terms of sustainable investments? We gauge the importance of environmental sustainability in the European NGEU funds as part of the Recovery and Resilience Mechanism.

The Spanish government has presented to parliament the Draft General Government Budget for 2023 and has sent to Brussels its Budget Plan setting out a picture of the consolidated general government accounts.

This year, the ECB will not only continue to raise interest rates, but it will also reduce the size of its balance sheet. How will this reduction work and what consequences could it have for sovereign debt?

The labour share is a variable with important economic, political and social implications which is of particular interest to analyse in turbulent times like the present.

Often, people who can afford to save, even though they are concerned about their financial situation in retirement, fail to allocate part of their income to long-term savings products. One of the reasons for this is our cognitive biases. We take a look at what behavioural economics teaches us about how we save.

In this article, we address the sustainability challenge facing our public pension system, based on the analyses carried out by the AIReF, the European Commission and the Ministry of Inclusion, Social Security and Migration.

All this suggests that we are unlikely to see another significant rebound in inflation in the coming months, and if this scenario materialises as anticipated, households will be able to continue to recover the purchasing power which they have lost in recent quarters.

The movement in the financial markets of recent weeks serves to consolidate the sensation that the interest rate regime will regain a degree of normality in the medium term, following the anomaly in the pattern of monetary policy in much of the last decade. This will mean higher real or equilibrium natural rates of interest than we have had in recent years.

The strengthening of Spanish households’ finances has exceeded expectations and is good news for the Spanish economy, as the challenging context looks set to continue over the coming quarters.

Despite the goal to reduce the government deficit to 3% of GDP in 2024, the Treasury’s funding needs will remain high. In addition, the market will have to absorb all the debt that is currently in the hands of the ECB and which it will not reinvest. In this context, we provide some perspective on the volume of debt that the market will have to absorb during this year.

In an environment characterised since 2020 by a string of negative disturbances, the positive surprise in 2023 was once again the resilience of the global business cycle, understood as «the ability of a living being to adapt to a disturbing agent or an adverse state or situation», according to the definition of the Royal Spanish Academy.

The recovery of investment should gain traction over the coming years and, in the case of the Spanish economy, the execution of the European NGEU funds is expected to exert ever greater traction on private investment.

Since the outbreak of the COVID-19 pandemic, American households have been much more pessimistic than one would expect given the current state of the US economy. Why is this? Is the same thing happening in Europe?

The risk premium on Portuguese debt has fallen significantly in the last 18 months and has remained well below those of Italy and Spain. What explains this dynamic?

The recent publication of the European Commission’s 2024 Ageing Report is an important milestone for the Commission’s evaluation of the 2021-2023 pension reform planned for 2025 and will determine whether further measures are needed to ensure the system’s sustainability.