Bank of Spain paper presents ‘global weakness index’

Bank of Spain
The Bank of Spain
Luis García

A working paper published by the Bank of Spain presents a new empirical framework for spotting recessions in major regions of the world economy “in real time”.

In Real-time weakness of the global economy: a first assessment of the coronavirus crisis, Danilo Leiva-Leon, Gabriel Perez-Quiros and Eyno Rots explain how their model constructs a “global weakness index”.

They say their paper relies on non-linear factor models “designed to infer recessionary episodes of heterogeneous deepness” as

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: