Artículos
Page 156 of 1351
El tratamiento de incertidumbres en modelos de planificación energética: un caso de estudio sobre el presupuesto de carbono español para el objetivo climático de 1,5 ºC
5 diciembre 2022
Este artículo presenta una metodología robusta de optimización aplicada a modelos dinámicos de planificación energética que puede manejar un gran número de incertidumbres.
Autores: Pérez Bravo, Manuel, Rodríguez Matas, Antonio F., Romero, José Carlos
Etiquetas: Acuerdo de París, Cambio climático, España, Flexibilidad, Modelos de planificación energética, Presupuesto de carbono, Robustez, Tratamiento de incertidumbres
An analysis of non-performing loans: Spain in the European context
30 noviembre 2022
Despite the intensity of the two crises sustained by the Spanish economy in the last three years (the COVID-19 crisis and the energy crisis exacerbated by the war in Ukraine), measures rolled out to mitigate the impact of those events have helped to avert an overall increase in Spanish banks’ non-performing loan ratios, albeit differences across industry sectors are noteworthy. However, given the challenging economic backdrop for 2023, non-performance will likely hit an inflexion point in the coming months, requiring the maintenance of adequate provisioning.
Autores: Maudos, Joaquín
Etiquetas: Budgetary breakdown
Rising interest rates: Initial effects on credit
Rising interest rates are rapidly translating into a considerable increase in borrowing costs, putting a strain on households and companies, which had grown accustomed to exceptionally lax financial conditions. In parallel, the increase in rates is already materializing in the form of some retrenchment in lending in Spain, particularly in the mortgage segment.
Autores: Carbó Valverde, Santiago, Rodríguez Fernández, Francisco
Etiquetas: Rising rates
TLTRO and bank liquidity in the new rate scenario
The ECB´s targeted longer-term refinancing operations, or TLTROs, were designed to be one of the key mechanisms to keep credit flowing through the banking system to the real economy during the crisis. Beyond the negative impact on banks´ earnings of recent changes to TLTRO terms in order to better align them with other monetary policy instruments, the European and Spanish banking systems have sufficient liquidity to handle the maturity or prepayment of their TLTRO funds, as well as to meet anticipated credit growth next year, thanks to their excess reserves, evolution of retail deposits and funds, and planned bond market issuance.
Autores: Alberni, Marta, Berges, Ángel, Rodríguez, María
Etiquetas: TLTRO changes
The ECB´s normalisation strategy: Uncertainty and legacies
The ECB is facing an extraordinary situation in which it is unable to rely on an economic slowdown alone to curb inflation. Only with decisive and swift action on normalisation of both interest rates and its monetary policy toolkit, comprised of legacy long-term liquidity injections and asset purchases, can the ECB prove its determination to bring inflation back in line with official targets and anchor inflation expectations.
Autores: Ezquiaga, Ignacio
Etiquetas: Monetary transmission
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