Bank of Spain
Machine learning pushes frontier of forecasting
AI techniques are starting to transform central banks’ statistical modelling. They could soon revolutionise structural models as well
Governors weigh trade-offs between inflation and financial stability
Officials stress central bank independence is key to addressing these risks
Bank of Spain board member quits hours after appointment
Cabrales had signed letters expressing support for Catalan pro-independence politicians
Carstens wins major Spanish economics prize
King of Spain award praises BIS president’s work in Mexico and globally
Social media: an essential tool for central bank communication
Strategies to secure popularity, comprehensibility and reputation as new media takes centre stage
Old people hit hardest by inflation, research finds
Authors find income effects and “Fisher channel” have the biggest impact on Spanish households
How to run a world-class economics department
Benchmarking data shows central banks have myriad ways of organising their economists. So how do some of the world’s top research organisations do it?
Some Eurosystem central banks hold Bank of Russia assets, ECB says
Holdings could become significant if further sanctions directly target Russian central bank
People: RBNZ completes leadership reshuffle
RBNZ sources assistant governor from private sector; Basel Committee names-secretary general; and more
People: Arce to lead ECB economics directorate
SNB deputy to retire; Vanuatu names new deputy; Glenn Stevens to chair Macquarie; and more
People: ECB appoints director-general for international relations
Vansteenkiste replaces veteran Klöckers; head of IMF’s capacity development institute retires
Spain’s interior vulnerable to loss of cash access – Bank of Spain
Rural areas have older populations and rely more on cash, but banks are closing branches
Report finds major failings in eurozone’s RTGS management
ECB-commissioned Deloitte inquiry into system failures recommends series of reforms
NGFS has ‘momentum’, but faces obstacles – Després
Lack of data and frameworks hamper climate mitigation, says Banque de France official
Spanish governor favours green monetary policy
Hernández de Cos stresses ECB should account for climate risks in its price stability mandate
Bank of Spain paper analyses regulations’ complexity
Researchers present new method for assessing regulations’ structural and linguistic complexity
Central banks look to shockproof models in wake of Covid-19
The Covid-19 crisis caused many central bank models to break down. Economists at the St Louis Fed, Bank of Spain and ECB were quick to innovate and say they will continue testing new tools
Higher economic uncertainty is harbinger of civil conflict – Bank of Spain research
Spain suffered rising levels of economic uncertainty leading up to 1936–39 civil war
Hernández de Cos encourages banks to use capital buffers
Basel Committee chair says it is “only a matter of time” before losses become apparent
Hernández de Cos says yield curve control ‘worth exploring’
ECB could target differential between OIS curve and riskier sovereign yields
Hernández de Cos on ECB policy, crises responses and Basel reform
Spanish governor and Basel Committee chair Pablo Hernández de Cos favours a form of average inflation targeting, says ECB is willing to boost stimulus and Basel reforms not diminished by Covid-19 exceptions; stresses the need for structural reform and…
Bank of Spain paper applies text mining to climate disclosures
Some climate disclosures found only in remuneration or Pillar 3 reports, researchers say
Bank of Spain paper looks at loan origination times
Loan origination data provides important insights into banking stability, researchers argue
Paper offers method for evaluating machine learning models
Bank of Spain paper looks at cost and benefits of ML models for predicting credit defaults