Workshop for researchers on household finances
The Banco de España and CEMFI (Centro de Estudios Monetarios y Financieros) will host a two-day research workshop in Madrid on September 3-4, 2026, examining two decades of the Spanish Survey of Household Finances. Governor José Luis Escrivá and Deputy Governor Soledad Núñez will deliver keynote remarks.
Two decades of microdata in Madrid
The two-day conference, titled “The EFF: More than 20 years of research experience and the way forward,” gathers academic researchers and central bank economists to assess empirical household finance.
Banco de España Deputy Governor Soledad Núñez opens a policy panel on the future of wealth surveys on September 3, featuring contributions from the New York Fed and Spain's State Agency for Public Policy Evaluation.
On September 4, Governor José Luis Escrivá opens proceedings before sessions on labor earnings and macroeconomic expectations.
Across four academic sessions, presenters examine consumption risk, wealth distribution across generations, housing subsidies, subjective income risk, and search dynamics in mortgage markets.
From housing subsidies to earnings risk
The agenda features research from international institutions including the Federal Reserve Board, Banca d'Italia, Banco de Portugal, and the European Central Bank.
Key papers evaluate the equilibrium effects of the US Tax Cuts and Jobs Act on housing, spatial homeownership subsidies, and the anatomy of consumption risk.
Methodological discussions focus on combining subjective household expectations with longitudinal survey datasets to capture income dynamics and financial literacy.
Crucial microdata, shifting questions
Spain's household finance survey has established itself as an essential microeconomic benchmark over two decades.
However, linking subjective survey metrics with hard administrative records remains an urgent hurdle.
Future relevance will depend on whether central banks adapt these tools to rapidly shifting financial markets.