Articles by Miguel Navascués

About the Author

Miguel Navascués
Miguel Navascués has worked as an economist at the Bank of Spain for 30 years, and focuses on international and monetary economics. He blogs in Spanish at: http://http://www.miguelnavascues.com/

Investors' perception of markets' risks

The Markets Are Not Frightened, Which Is A Reason To Fear

Markets’ indicators are showing a lack of any estimation of risk. To begin with, they are at record highs, although some observers say there is still upside potential. Investors’ perception of risk is very slight or zero and, as a result, the risks are very high for them.



Catalan referendum

Catalan Referendum: Rajoy has the law on his side, but is politically weak

The main problem from today onwards is not that Catalonia obtains independence, because there is zero possibility of that happening. It’s rather the weakening of Spain and Europe. Prime Minister Rajoy has the law on his side, but he is politically weak. He needs to look for back up outside, from Europe. But effective support, not notional.

 





Spain productivity

The Eternal Problem Of Spain’s Productivity

The problem in Spain’s economy: it’s that productivity is hardly apparent in the breakdown of GDP between the amount of work (number of hours worked) and the residue, which is productivity.



Global crisis

The tenth anniversary of the global financial crisis

Most of the media has reminded us that on August 9, 2007, BNP Paribas announced it was having problems calculating a reliable net asset value for three mutual funds. So the bank suspended redemptions. The most commonly held view is that this was the beginning – not the origin – of the crisis.