Banco de España
BDESpeech
Escrivá defends central bank money as anchor for tokenised finance
Speaking at the 10th Conference of Mediterranean Central Banks, Banco de España Governor José Luis Escrivá called for preserving the two-tier monetary system and central bank money as tokenised financial markets expand across Europe.
Focus
BDEPaper
Bilateral protectionism reduces foreign affiliates by 1.3 percent
A one percentage point increase in bilateral protectionism reduces foreign subsidiary presence by 1.3 percent, according to a study by Banco de España and Joint Research Centre researchers.
BDENews
Thirteen central banks convene on digital currencies and payments
Banco de España is hosting the 10th Conference of Mediterranean Central Banks in Roda de Berà on October 1 and 2, 2026.
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BDEPaper
Dollar invoicing and supply networks amplify Chinese tariff losses
A 10 percentage point reciprocal US-China tariff war concentrates output losses in China while raising consumer prices in the United States, according to a Banco de España study.
BDEData
Spanish public debt falls to 101.4 percent of GDP
Spain's general government debt ratio fell by 1.8 percentage points year-on-year to 101.4 percent of GDP in the second quarter of 2026.
BDEDecoder
Sovereign carbon metrics shift country rankings across GDP and trade
Measuring the carbon footprint of sovereign bonds requires distinct allocation, normalisation, and attribution methodologies that yield contrasting climate rankings across nations.
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BDEPaper
Horizontal mergers raise revenue productivity 4 percent in Spain
Analyzing 3,759 horizontal mergers in Spain between 1997 and 2022, a Banco de España study finds that post-deal revenue productivity rises 4 percent and markups rise 5 to 6 percent within eight years.
BDENews
Textile exhibition links architecture, labor and value creation
Banco de España has opened “The Pliable Plane,” a textile art exhibition featuring around 50 works from the seventeenth century to the present.
BDEPaper
Productivity growth proves additive rather than exponential
A study by Callum Jones, David López-Salido and Thomas Philippon finds that total factor productivity growth is additive rather than exponential.
BDESpeech
Spanish housing deficit to widen by 300,000 units by 2028
Banco de España Deputy Governor Soledad Núñez warned that Spain faces a housing shortfall of over one million units by 2028.
BDEPaper
Multiple distinct shocks drove 2025 dollar drop and yield rise
The market aftermath of the April 2025 U.S. tariff announcement was driven by multiple distinct shocks rather than a single trade disturbance, according to a Banco de España study.
BDEData
Venture capital statistics revised across 2020-2024 series
Banco de España has revised its experimental venture capital statistics for 2020 to 2024 alongside the publication of 2025 figures.