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Microsimulation Tools for the Evaluation of Fiscal Policy Reforms at the Banco De España
This paper presents the microsimulation models developed at the Banco de España for the study of fiscal reforms, describing the tool used to evaluate changes in the Spanish personal income tax and also the one for the value added tax and excise duties. In both cases the structure, data and output of the model are detailed and its capabilities are illustrated using simple examples of hypothetical tax reforms, presented only to illustrate the use of these simulation tools.
Panel Data Econometrics
Written by one of the world's leading experts on dynamic panel data reviews, this volume reviews most of the important topics in the subject. It deals with static models, dynamic models, discrete choice and related models.
Migrations in Spain
Se revisan los diferentes episodios de emigración en España desde los comienzos del siglo XX, haciendo énfasis en los factores que la provocan. Los periodos considerados son 1900-1950 y 1950-1973. La emigración extranjera es tambien considerada.
IMF Staff Papers, Volume 46, No. 1
This economic journal contains theoretical and empirical analyses of varous macroeconomic issues. The studies are prepapred by IMF research staff or consultants. Subjects covered inclulde balance of payments and exchange rates, monetary systems and policies, public finances, international trade, economic growth, and some sectoral analyses. The last issue of the year contains an index to the volume. Approximately 200 pages in each issue.
How Do the Skilled and the Unskilled Respond to Regional Shocks? the Case of Spain
Are there any differences in how workers of different skill levels respond to regional shocks? This paper addresses that question using the methodology of Blanchard and Katz (1992) and a unique data set on working-age population, labor force, and employment for five educational groups (ranging from the illiterate to the college-educated) over 1964-92 for the 50 Spanish provinces. The paper finds that the high-skilled migrate very promptly in response to a decline in regional labor demand, while the low-skilled drop out of the labor force or stay unemployed.
Learning about Migration Decisions from the Migrants
Se investiga los determinantes del incremento en emigraciones interrregionales en España desde 1980, usando un gran archivo de datos de migraciones. Las condiciones de migracion son identificadas comparando la distribución de migraciones con las caracteristicas de la distribucion de las necesidades laborales. La proporción del empleo en la industria, desempleo, precios de viviendas y educación, etc. tienen un importante efecto positivo en las probabilidades individuales de la migración.
Global Financial Stability Report, October 2017
The October 2017 Global Financial Stability Report finds that the global financial system continues to strengthen in response to extraordinary policy support, regulatory enhancements, and the cyclical upturn in growth. It also includes a chapter that examines the short- and medium-term implications for economic growth and financial stability of the past decades’ rise in household debt. It documents large differences in household debt-to-GDP ratios across countries but a common increasing trajectory that was moderated but not reversed by the global financial crisis. Another chapter develops a new macroeconomic measure of financial stability by linking financial conditions to the probability distribution of future GDP growth and applies it to a set of 20 major advanced and emerging market economies. The chapter shows that changes in financial conditions shift the whole distribution of future GDP growth.
