Policy papers

Policy papers (not peer-reviewed)

The ECB Monetary Policy Response to the Covid-19 Crisis (with Pablo Aguilar, Óscar Arce, Samuel Hurtado, Jaime Martínez and Carlos Thomas) [download] [Spanish] Bank of Spain Occasional Papers, 2020. It was published (in Spanish) in Papeles de Economía Española [link].

The Eurosystem’s Monetary Policy Following the End of Net Asset Purchases (with Óscar Arce and Carlos Thomas) [download] Bank of Spain Analytical Articles, 2019

Monetary policy implications of central bank-issued digital currency [download] Bank of Spain Analytical Articles, 2018

The natural interest rate: concept, determinants and implications for monetary policy (with Carlos Thomas and Alessandro Galesi) [download] [Spanish] Bank of Spain Analytical Articles, 2017

Evaluación y perspectiva de los precios del petróleo (in Spanish) [download] Revista de Economía Aragonesa, 2016.

El mercado del petróleo: cambios en la oferta y determinantes de la caída de los precios en 2014 (in Spanish) [download] Boletín Económico, Banco de España, 2015

Long-run growth and demographic prospects in advanced economies, (with C. Pulido and R. Segura) [download] [Spanish] Bank of Spain Occasional Paper 1206, July 2012 .

The Process of Economic Adjustment after Financial Crises: a Historical Perspective, [download] [Spanish] Bank of Spain Economic Bulletin, October 2011.

Energy Markets and the Euro Area Macroeconomy, [download] ECB Occasional Papers, 2010.

Un modelo para analizar las causas y consecuencias de las variaciones en el precio del petróleo (with Anton Nakov, in Spanish), [download] Boletín Económico Banco de España, 2010 (with A. Nakov)

After Bretton Woods II, (with Escrivá, Garcia-Herrero and Vial) [download] BBVA Working Papers, 2008