Artículos
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Regional government debt: Recent trends and outlook
30 marzo 2023
Despite having one of the most advanced fiscal rule frameworks in Europe, Spain remains the OECD country where regional governments’ debt has grown the most since the Great Recession. Even in the context of more difficult financing conditions at present, it will be important to address existing challenges to the extraordinary regional financing mechanisms, while adapting the current fiscal stability framework to the new European rules.
Autores: Lago Peñas, Santiago
Etiquetas: Regional debt
Spanish employment data in 2022: Resilience in the context of a conundrum
The recent trends in the Spanish labour market have been seemingly positive, insofar as employment is already above pre-pandemic levels and continued to grow in 2022 despite the complex environment. Nevertheless, on the whole, Spanish labour market data remain mixed, impeding a clear picture of its possible structural changes.
Autores: Fernández, María Jesús
Etiquetas: Labour market
Increases in Euribor and potential impact on mortgages and the Spanish economy
The rise in Euribor has cooled the housing market –transaction volumes have slowed and the price curve is beginning to bend. While at present the situation does not seem to pose a risk of a crisis for the Spanish economy, going forward, the evolution of employment will be key, as this is the main variable underpinning households’ ability to service their debts.
Autores: Torres, Raymond
Etiquetas: Mortgage market
Shadow banking: A distortion of the banking business
Since the great recession, shadow banking has been growing worldwide, especially in the US and the Eurozone. However, monetary tightening and new capital requirements for private equity will likely slow down shadow banking growth.
Autores: Aires, Diego, Mota, Antonio, Olmo, Francisco del, Rojas, Fernando
Etiquetas: Shadow banking
Bank profitability in Spain: A debate in need of perspective
Spanish banks announced record earnings growth in 2022, in tandem with the ongoing process of financial normalisation, in which interest rates increased, after years in negative territory. Despite strong performance, challenges remain, and banks must stay profitable and solvent on account of their systemic importance to a country’s business and social fabric, while pushing ahead with necessary cost-cutting and digitalisation.
Autores: Carbó Valverde, Santiago, Rodríguez Fernández, Francisco
Etiquetas: Bank profitability
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