Articles
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Spanish economic activity by institutional sector: Divergent growth since the creation of the euro
3 April 2025
The evolution of Spain’s institutional sectors since the creation of the euro reveals significant disparities in output and capital investment. The non-financial corporate sector has driven most of the economic activity, while the current output of households barely reaches maximum 2005 levels and the fall in real corporate fixed capital since the pandemic raises concerns about long-term growth potential.
Autores: Salas Fumás, Vicente
Tags: Institutional sectors
Estimating the impact of inflation on Spain’s tax burden: The hidden effects of fiscal drag
Inflation has increased Spain’s tax burden by eroding the real value of tax allowances and pushing taxpayers into higher brackets. The lack of systematic indexation has disproportionately impacted middle-income earners, raising questions about the fairness and sustainability of current fiscal policy.
Autores: Romero Jordán, Desiderio
Tags: Fiscal drag
Cost efficiency in the Spanish banking sector in the face of margin pressures: Contrast between SIs and LSIs
The sharp rise in interest rates since 2021 has driven up operating expenses for Spanish banks, making cost efficiency a key priority in the current context of slowing margin growth. A comparison between significant institutions (SIs) and less significant institutions (LSIs) highlights differences in cost structures, expense growth, and efficiency gains, with LSIs seeing more intense expense increases but also stronger improvements in efficiency.
Autores: Alberni, Marta, Berges, Ángel, Ibáñez, Lucía
Tags: Banking Sector
Spain’s knowledge economy and the NGEU: Recent progress and outstanding challenges
Supported by NGEU funds, Spain’s knowledge economy has made progress in key areas such as R&D investment and product innovation-related sales. However, gaps in talent formation, digitalization, and a weakening focus on sustainability threaten long-term growth unless more targeted reforms are implemented.
Autores: Xifré, Ramon
Tags: Knowledge economy
European housing policy insights: Lessons for Spain’s market challenges
Spain’s housing market is under strain due to a persistent supply-demand imbalance, particularly in major urban centers, exacerbating affordability challenges. Lessons from other European countries highlight the need to cut red tape, improve land-use policies, and foster public-private partnerships to boost housing availability and long-term market stability.
Autores: González Simón, Miguel Ángel
Tags: Housing Market
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