Journal ArticleDOI
Monitoring the Spanish Economy From a Regional Perspective: Main Elements of Analysis
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In this paper, the authors provide an overview of the available data for monitoring macroeconomic and public finance developments at the regional level in Spain, and present some examples of its practical use in real time.Abstract:
In highly decentralized countries the subnational dimension of economic developments acquires particular relevance, given the existence of potential spillover effects across jurisdictions or the existence of asymmetric impacts of national-wide macroeconomic shocks. At the same time, though, the analysis of sub-national macroeconomic and public finance short-term developments tend to be restricted in many countries due to data limitations. Against this backdrop, the aim of this paper is to provide an overview of the available data for monitoring macroeconomic and public finance developments at the regional level in Spain, and to present some examples of its practical use in real time. After a thoroughly review of the publicly available information, we identify two key informational gaps in this area of conjunctural analysis, namely: (i) the lack of homogeneous and official quarterly measures of aggregate regional economic activity (in particular, real GDP), and (ii) the limited sample size of time series pertaining to government budgetary developments at the regional level.read more
Citations
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On the Determinants of Fiscal Non-Compliance: An Empirical Analysis of Spain's Regions
TL;DR: In this paper, an empirical framework that distinguishes between voluntary and involuntary compliance with fiscal deficit targets on the basis of economic, institutional and political factors is proposed, applied to Spain's Autonomous Communities (regions) over the period 2002-2015.
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Rodolfo G. Campos,Jacopo Timini +1 more
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Journal ArticleDOI
An Application of Dynamic Factor Models to Nowcast Regional Economic Activity in Spain
TL;DR: The Bayesian Factor model for Regions is introduced, which allows for the inclusion of missing data and combines quarterly data on regional real output growth and monthly information associated to indicators of regional real activity, to produce nowcasts of GDP growth of Spanish regions.
Spanish regions in global value chains: How important? how different?
TL;DR: In this paper, the authors analyze the role of networks (domestic or foreign) in the propagation of sector-specifi c shocks in global value chains and their implications for the propagation.
Monitoring sub-central government spending in Spain
TL;DR: In this article, the authors compile a dataset on quarterly and monthly regional government's spending variables, by reviewing all available, scattered sources, and put together a database usable for economic and policy analysis.
References
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Journal ArticleDOI
The Spanish Economic Crisis: Key Factors and Growth Challenges in the Euro Area
Eloísa Ortega,Juan Peñalosa +1 more
TL;DR: In this article, the authors analyze the determinants behind the economic crisis that have made it deeper and longer in Spain than in previous instances, and which have meant that there are significant obstacles to emerging from recession.
Book
The Day After Tomorrow: A Handbook on the Future of Economic Policy in the Developing World
Otaviano Canuto,Marcelo Giugale +1 more
TL;DR: In this paper, 40 development economists, most of them from the World Bank's poverty reduction and economic management network, were asked to tell us what they see on the horizon of their technical disciplines and of their geographic areas of specialization.
Journal ArticleDOI
Tracking the future on the web: construction of leading indicators using internet searches
Concha Artola,Enrique Galán +1 more
TL;DR: In this paper, the authors present a very specific application for the Spanish economy: British tourist inflows to Spain (the Spanish tourist industry's main customers), and the improvement in the forecasting provided by the short-term models that include the G-indicator depends on the benchmark model.
Journal ArticleDOI
Employment, Wage and Price Reactions to the Crisis in Spain: Firm-Level Evidence from the WDN Survey
TL;DR: The third wave of the WDN survey as mentioned in this paper showed that Spanish firms' adjustment to falling demand and other negative conditions since 2010 relied heavily on the dismissal of employees under temporary contracts, although those firms most affected by the crisis also significantly reduced permanent employment.
Posted Content
Evaluating the macro-representativeness of a firm-level database: an application for the spanish economy
TL;DR: In this paper, a new representative firm-level dataset for Spain using detailed micro-level information provided by firms to the Spanish Commercial Registry and the Bank of Spain is presented, which is able to replicate the growth rates of output, employment and wage bill of the private sector.