Labour Economics
“Family-friendly policies and fertility: what firms have to do with it?” (with N. Guner, Y. Kulikova, A. Ruggieri, and C. Sanz), unpublished manuscript, 2025.
"Gender and career progression at the Bank of Spain" (with L. Hospido and A. Lamo). AEET Distinguished lecture, XVII Jornadas de Economía Laboral, Oviedo, 25 June 2025.
“Gender and career progression: evidence from the Banco de España” (with L. Hospido and A. Lamo), forthcoming in SERIEs – Journal of the Spanish Economic Association. Banco de España Working Paper 2443, 2024.
"To be or not to be (employed): two decades of fluctuating earnings and income inequality in Spain" (with B. Anghel, L. Hospido, J. Ortega and A. Regil). Country Studies: Inequalities in Europe and North America. A parallel study to the IFS Deaton Review, lnstitute for Fiscal Studies, London, 2024.
"House Prices and Employment Reallocation: International Evidence" (with J. F. Jimeno). Banco de España Working Paper 0705, 2007.
"Paro y prestaciones: nuevos resultados para España" (with M.Arellano and S.Bentolila). Appeared in: J.Pérez, C.Sebastián, and P.Tedde (eds.): Políticas, Mercados e Instituciones Económicas, Estudios en Homenaje a Luis Ángel Rojo, Volume 1, Editorial Complutense, Madrid, 2004.
Comment on "Labor Market Institutions in a Changing World" by G. Bertola, Moneda y Crédito, 2004, 218.
"Another Look at Unemployment Duration: Exit to a Permanent vs. a Temporary Job" (with R. Gómez), Investigaciones Económicas, 28, 2004, 285-314. Awarded the prize for the best article published in the journal in 2004 and 2005.
"The Distribution of Earnings in Spain During the 1980s: The Effects of Skill, Unemployment, and Union Power" (with M. Arellano and S. Bentolila), Banco de España, Servicio de Estudios, Working Paper no. 0015. Appeared in: D. Cohen, T. Piketty and G. Saint-Paul (eds.): The Economics of Rising Inequalities, Chapter 1, Oxford University Press and CEPR, 2002, 3-53.
"Unemployment Duration, Benefit Duration, and the Business Cycle" (with M. Arellano and S. Bentolila). (Old versions: CEMFI Working Paper no. 9717 ; and CEPR Discussion Paper no. 1840.) Appeared in: The Economic Journal, 112, 2002, 223-265.
"Labor Market Outliers: Lessons from Portugal and Spain" (with P. García-Perea and P. Portugal), Economic Policy, October 2000, 381-428.
"Female Labour Force Participation in the 1980's: The Case of Spain" (with M. Arellano), Investigaciones Económicas, 19, 1995, 171-194.
"Cambios en la composición del empleo y actividad laboral femenina", Papeles de Economía Española, 1997, 38-51.
"Relaxing Intertemporal Separability: A Rational Habits Model of Labour Supply Estimated from Panel Data", Journal of Labor Economics, 9, 1991, 85-100.
"Estimating Intertemporal Labour Supply Elasticities Using Structural Models", The Economic Journal, 99, 1989, 1026-1039.
Migration
"Learning About Migration Decisions From the Migrants" (with M. Arellano), Journal of Population Economics, 15, 2002, 357-380. Awarded the Kuznets Prize for the best article published in the Journal of Population Economics during the period 2001-2003.
"Migration in Spain: Historical Background and Current Trends" (with P. Velilla), (Earlier version: IZA Discussion Paper no. 88). Forthcoming in: K. Zimmermann (ed.): European Migration: What Do We Know?, CEPR and Oxford University Press.
"Regional Migration in Spain: The Effect of Personal Characteristics and of Unemployment, Wage and House Price Differentials using Pooled Cross-Sections" (with P. Antolín), Oxford Bulletin of Economics and Statistics, 1997, 215-235.
Housing
"Measuring Expectations from Household Surveys: New Results on Subjective Probabilities of Future House Prices", SERIEs - Journal of the Spanish Economic Association, 6, 2015, 361–405.
"Housing Purchases and the Dynamics of Housing Wealth", Banco de España Working Paper 1036, 2010. Supplementary Appendix.
"Quality-adjusted prices: hedonic methods and implications for national accounts" (with M. Izquierdo), Investigaciones Económicas, 27, 2003, 199-238.
"Hedonic House Prices Without Characteristics: The Case of New Multiunit Housing" (with P. Velilla), ECB Working Paper no. 117, and CEPR Discussion Paper no. 3161, January 2002 (earlier version: Banco de España, Estudios Económicos no. 73, 2001).
"An Empirical Model of House Prices in Spain (1976-1991)", Banco de España, Research Department, Working Paper No. 9217. Spanish version published in Investigaciones Económicas, 17, 1993, 65-86.
"Housing, Wages and UK Labour Markets" (with J. Muellbauer and A. Murphy), Oxford Bulletin of Economics and Statistics, 51, 1989, 97-136. (Reprinted with comments in: Heinz Koning (ed.), Economics of Wage Determination, Springer-Verlag, 1990, 329-369).
Money Demand
"Are There Economies of Scale in the Demand for Money by Firms? Some Panel Data Estimates" (with N. Watson), Journal of Monetary Economics, 52, 2005, 1569-1589.
Econometrics
"Autoregressive Models with Sample Selectivity for Panel Data" (with M. Arellano and J. M. Labeaga). In C. Hsiao, K. Lahiri, L-F. Lee, and H. Pesaran (eds.): Analysis of Panels and Limited Dependent Variable Models, Chapter 2, Cambridge University Press, 1999, 23-48.
"Estimating Dynamic Limited Dependent Variable Models from Panel Data" (with M. Arellano), Investigaciones Económicas, 21, 1997, 141-165.
"Another Look at the Instrumental-Variable Estimation of Error-Components Models" (with M. Arellano), Journal of Econometrics, 68, 1995, 29-51.
"La Econometría de Datos de Panel" (with M. Arellano), Investigaciones Económicas, 14, 1990, 3-45.
"Estimating Contaminated Limited Dependent Variable Models" (with M. Arellano), Applied Economics Discussion Paper 11, IES, Oxford, 1986.
Household Finance and Consumption
"The Impact of High School Financial Education on Financial Knowledge and Savings Choices: Evidence from a Randomized Trial in Spain" (with L. Hospido and E. Villanueva), forthcoming in The Journal of Human Resources (published online January 8, 2024).
“Firms and Households during the Pandemic: What Do We Learn from Their Electricity Consumption?” (with N. Fabra, S. García-Uribe, A. Lacuesta and R. Ramos), The Energy Journal, 44(3), 2023, 267-288.
“Income, consumption and wealth inequality in Spain” (with B. Anghel, H. Basso, J. M. Casado, L. Hospido, M. Izquierdo, I. Kataryniuk, A. Lacuesta, J. M. Montero and E. Vozmediano), SERIEs - Journal of the Spanish Economic Association, 9, 2018, 351–387.
“Survey of Financial Competences 2016: main results” (with L. Hospido and E. Villanueva), Directorate General Economics, Statistics and Research, Banco de España, 2018.
“Microsimulation tools for the evaluation of fiscal policy reforms at the Banco de España” (with J. M. Casado, E. García-Miralles, J. M. Labeaga, and R. Ramos), Banco de España Occasional Paper 1707, 2017.
“The Distribution of Debt Across Euro Area Countries: The Role of Individual Characteristics, Institutions and Credit Conditions” (with J.M. Casado, S. Costa, P. Du Caju, Y. McCarthy, E. Sierminska, P. Tzamourani, E. Villanueva, and T. Zavadil), International Journal of Central Banking 44th edition. (Earlier version: Banco de España Working Paper 1320, 2013) Supplementary Appendix.
"Wealth Inequality and Household Structure: US vs. Spain", CEPR Discussion Paper No. 6680, Banco de España Working Paper 0804, 2008, Review of Income and Wealth, 56, 2010, 259-290. Awarded the John W. Kendrick Prize for the best microeconomics article published in the journal in 2010 and 2011.
"Wealth Effects on Consumption: Microeconometric Estimates from a New Survey of Household Finances", CEPR Discussion Paper No. 5874, Banco de España Working Paper 0522, 2005.Additional results.
"Durable Consumption and House Purchases: Evidence from Spanish Panel Data" (with A. Estrada), Banco de España, Research Department, Working Paper No. 9411.
Comment on "Intertemporal Consumer Behaviour under Structural Changes in Income" by C. Winder and F. Palm, Econometric Reviews, 8, 1989, 89-91.
"Liquidity Constraints and Aggregation in the Consumption Function under Uncertainty" (with J. Muellbauer), Applied Economics Discussion Paper 12, Institute of Economics and Statistics, Oxford, 1986.
Comments
“Editing and Imputation for Survey Data on Household Wealth: Some Comments on the Celebration of Arthur Kennickell”, Statistical Journal of the International Association for Official Statistics, 33(1), 2017, 241-243.
“Eurosystem Household Finance and Consumption Survey: Main Results on Assets, Debt, and Saving” (with Martin Schürz, Jiri Slacalek, and Federica Teppa), International Journal of Central Banking, 12(2), 2016, 1-14.
"Measuring material conditions: income, consumption, and wealth: Discussion of presentations by Guiso, and Samphantharak", Third IMF Statistical Forum, Frankfurt am Main, November 2015.
“Consumption, Income Shocks, and Heterogeneity: Discussion of papers by Alan/Browning/Ejrnæs, Blundell/Pistaferri/Saporta-Eksten, and Alan/Crossley/Low”, Royal Economic Society Annual Conference, Cambridge, 27 March 2012.
Comments on ''Caregiving to Elderly Parents and Employment Status of European Mature Women'' by Crespo and Mira, COSME Conference, Madrid 1 June 2009.
Comments on ''Cash-on-Hand and Competing Models of Intertemporal Behavior: New Evidence from the Labor Market'' by Card, Chetty, and Weber, Banco de Portugal Conference on Unemployment, Quinta do Lago 8 June 2007.