Enrique Alberola

Bank of Spain- International Dept

Executive coordination

Alcala 50

Madrid

Spain

Bank for International Settlements (BIS)

Chief Representative Americas Office

Ruben Dario 281

Polanco, Miguel Hidalgo

Mexico City, 11580

Mexico

http://www.bis.org/author/enrique_alberola-ila.htm

  • Bank of Spain- International Dept

  • Bank for International Settlements (BIS)

SCHOLARLY PAPERS

38

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511

Scholarly Papers (38)

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1.

Unconventional Monetary Policy and Debt Sustainability in Japan

Journal of Japanese and International Economies, Volume 69, September 2023.
Number of pages: 27 Posted: 26 Jun 2023 Last Revised: 04 Aug 2023
Enrique Alberola, Gong Cheng, Andrea Consiglio and Stavros A. Zenios
Bank of Spain- International Dept, Bank for International Settlements (BIS), University of Palermo - d/SEAS and Durham University Business School
Downloads 692 (79,362)

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Debt sustainability analysis; risk management; Quantitative Easing; Yield Curve Control; Unconventional monetary policy; CVaR optimisation.

2.

Global Equilibrium Exchange Rates: Euro, Dollar, 'Ins', 'Outs', and Other Major Currencies in a Panel Cointegration Framework

IMF Working Paper No. 99/175
Number of pages: 43 Posted: 14 Feb 2006
Enrique Alberola, Humberto Lopez, Angel J. Ubide and Susana G. Cervero
Bank of Spain- International Dept, World Bank - Research Department, Tudor Investment Corporation and affiliation not provided to SSRN
Downloads 476 (126,779)
Citation 1

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Equilibrium Exchange Rates, Panel Cointegration

3.

Global Equilibrium Exchange Rates: Euro, Dollar, 'Ins,' 'Outs,' and Other Major Currencies in a Panel Cointegration Framework

Number of pages: 43 Posted: 13 Dec 1999
Angel J. Ubide, Enrique Alberola, Humberto Lopez and Susana G. Cervero
Tudor Investment Corporation, Bank of Spain- International Dept, World Bank - Research Department and affiliation not provided to SSRN
Downloads 393 (158,566)
Citation 1

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4.

Sovereign External Assets and the Resilience of Global Imbalances

Banco de Espana Working Paper No. 0834
Number of pages: 32 Posted: 06 Feb 2009
Enrique Alberola and José María Serena
Bank of Spain- International Dept and Bank for International Settlements (BIS)
Downloads 360 (174,774)
Citation 33

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international reserves, sovereign wealth funds, global imbalances, exchange rates

5.

Debt Sustainability and Monetary Policy: The Case of ECB Asset Purchases

Number of pages: 37 Posted: 14 Nov 2022
Enrique Alberola, Gong Cheng, Andrea Consiglio and Stavros A. Zenios
Bank of Spain- International Dept, Bank for International Settlements (BIS), University of Palermo - d/SEAS and Durham University Business School
Downloads 222 (287,833)

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Debt sustainability analysis, risk management, unconventional monetary policy, monetary-fiscal mix, PEPP, CVaR optimization

6.

Banks, Remittances and Financial Deepening in Receiving Countries: A Model

Banco de Espana Research Paper No. WP-0621
Number of pages: 48 Posted: 30 Aug 2006
Enrique Alberola and Rodrigo César Salvado
Bank of Spain- International Dept and Banco Centroamericano de Integración Económica
Downloads 216 (295,413)
Citation 19

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banks, financial development, migrations, remittances

7.

Tango with the Gringo: The Hard Peg and Real Misalignment in Argentina

Number of pages: 29 Posted: 20 Apr 2016
Enrique Alberola, Humberto Lopez and Luis Servén
Bank of Spain- International Dept, World Bank - Research Department and CEMFI
Downloads 190 (332,999)

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8.

Debt Sustainability and Procyclical Fiscal Policies in Latin America

Banco de Espana Research Paper No. WP-0611
Number of pages: 36 Posted: 18 May 2006
Enrique Alberola and Jose Manuel Montero
Bank of Spain- International Dept and Banco de España
Downloads 183 (344,621)
Citation 8

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procyclical fiscal policy, debt sustainability

9.

Fiscal Regimes and the Exchange Rate

Swiss National Bank Working Paper No. 1/2022
Number of pages: 63 Posted: 11 Jan 2022
Nikola Mirkov, Enrique Alberola, Carlos Cantú and Paolo Cavallino
ITAM, Bank of Spain- International Dept, Bank for International Settlements (BIS) - Representative Office for the Americas and Bank for International Settlements (BIS)
Downloads 182 (346,289)
Citation 1

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exchange rate, monetary policy, fiscal policy, fiscal dominance, sovereign default

10.

Growth Beyond Imbalances. Sustainable Growth Rates and Output Gap Reassessment

Banco de Espana Working Paper No. 1313
Number of pages: 36 Posted: 11 Oct 2013
Enrique Alberola, Ángel Estrada and Daniel Santabárbara
Bank of Spain- International Dept, Banco de España and Banco de España
Downloads 181 (348,059)
Citation 14

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sustainable growth, macroeconomic imbalances, output gaps, potential growth

11.

Misalignment, Liabilities Dollarization and Exchange Rate Adjustment in Latin America

Banco de España Research Paper No. WP-0309
Number of pages: 25 Posted: 23 Apr 2007
Enrique Alberola
Bank of Spain- International Dept
Downloads 178 (353,285)
Citation 25

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exchange rates, liabilities dollarization, financial stability

12.

Fiscal Policy and the Cycle in Latin America: The Role of Financing Conditions and Fiscal Rules

Downloads 172 (364,017)
Citation 38

Fiscal Policy and the Cycle in Latin America: The Role of Financing Conditions and Fiscal Rules

Banco de Espana Working Paper No. 1604
Number of pages: 41 Posted: 10 Feb 2016
Enrique Alberola, Iván Kataryniuk, Angel Melguizo and René Orozco
Bank of Spain- International Dept, Banco de España, Organization for Economic Co-Operation and Development (OECD) and Organization for Economic Co-Operation and Development (OECD)
Downloads 128 (465,781)
Citation 36

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procyclical fiscal policy, fiscal rules, financing conditions, Latin America

Fiscal Policy and the Cycle in Latin America: The Role of Financing Conditions and Fiscal Rules

BIS Working Paper No. 543
Number of pages: 34 Posted: 02 Feb 2016
Enrique Alberola, Iván Kataryniuk, Angel Melguizo and René Orozco
Bank of Spain- International Dept, Banco de España, Organization for Economic Co-Operation and Development (OECD) and Organization for Economic Co-Operation and Development (OECD)
Downloads 44 (878,419)
Citation 2

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procyclical fiscal policy, fiscal rules, financing conditions, Latin America

13.

Transmission of Shocks and Monetary Policy in the Euro Area' an Exercise With Nigem

Banco de España Research Paper No. WP-0010
Number of pages: 72 Posted: 23 Apr 2007
Enrique Alberola and Eva Ortega
Bank of Spain- International Dept and Bank of Spain, DG Economics, Statistics and Research
Downloads 160 (387,473)

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NiGEM model, interest-rate changes, shocks, monetary policy

14.

International Reserves and Gross Capital Flows - Dynamics During Financial Stress

Banco de Espana Working Paper No. 1211
Number of pages: 36 Posted: 22 Feb 2012
Enrique Alberola, Aitor Erce and José María Serena
Bank of Spain- International Dept, UPNA and Bank for International Settlements (BIS)
Downloads 155 (398,162)
Citation 63

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gross capital flows, international reserves, systemic crises, capital retrenchment

15.

Global Financial Integration, Monetary Policy and Reserve Accumulation: Assessing the Limits in Emerging Economies

Banco de España Research Paper No. WP-0706
Number of pages: 39 Posted: 03 Apr 2007
Enrique Alberola and José María Serena
Bank of Spain- International Dept and Bank for International Settlements (BIS)
Downloads 154 (400,362)
Citation 50

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international reserves, monetary policy, central banks, sterilization, internal costs

16.

On the Relevance and Nature of Regional Inflation Differentials: The Case of Spain

Banco de España Research Paper No. WP-9913
Number of pages: 38 Posted: 23 Apr 2007
Enrique Alberola and J. Manuel Marqués
Bank of Spain- International Dept and Banco de España
Downloads 141 (429,847)
Citation 8

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inflation differentials, relative price shifts, real exchange rates

17.

Equilibrium Exchange Rates in the New EU Members: External Imbalances vs. Real Convergence

Banco de España Research Paper No. WP-0708
Number of pages: 36 Posted: 26 Jun 2007
Enrique Alberola and Daniel Navia
Bank of Spain- International Dept and Banco de España
Downloads 135 (444,887)
Citation 39

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new EU members, Balassa-Samuelson, FDI, REER, current account, convergence

18.

Output Gaps and Policy Stabilisation in Latin America: The Effect of Commodity and Capital Flow Cycles

BIS Working Paper No. 568
Number of pages: 24 Posted: 14 Jun 2016
Enrique Alberola, Rocio Gondo, Marco J. Lombardi and Diego Urbina
Bank of Spain- International Dept, Independent, Bank for International Settlements (BIS) - Monetary and Economic Department and Bank for International Settlements (BIS)
Downloads 130 (458,558)
Citation 1

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output gap, commodity prices, capital flows, procyclicality, fiscal policy, Latin America

19.

Fiscal Discipline & Exchange Rate Regimes': A Case for Currency Boards

Banco de España Research Paper No. WP-0006
Number of pages: 35 Posted: 23 Apr 2007
Enrique Alberola and Luis Molina
Bank of Spain- International Dept and Banco de España
Downloads 126 (469,845)
Citation 2

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exchange rates, seignoriage revenues, currency boards, fiscal discipline

20.

What Does Really Discipline Fiscal Policy in Emerging Markets? The Role and Dynamics of Exchange Rate Regimes

Banco de España Research Paper No. WP-0402
Number of pages: 40 Posted: 23 Apr 2007
Enrique Alberola and Luis Molina
Bank of Spain- International Dept and Banco de España
Downloads 123 (478,767)
Citation 8

Abstract:

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fiscal discipline, emerging markets, exchange rates

21.

Central Banks and Macroprudential Policy: Some Reflections from the Spanish Experience

Number of pages: 26 Posted: 23 Aug 2011
Enrique Alberola, Carlos Trucharte and Juan Luis Vega
Bank of Spain- International Dept, Banco de España and Banco de España
Downloads 115 (503,970)
Citation 51

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macroprudential policy, dynamic provision, central banks

22.

Local Debt Expansion... Vulnerability Reduction? An Assessment for Six Crises-Prone Countries

Banco de España Research Paper No. WP-0733
Number of pages: 35 Posted: 30 Oct 2007
Paloma Acevedo, Enrique Alberola and Carmen Broto
Banco de España, Bank of Spain- International Dept and Banco de España
Downloads 114 (507,283)
Citation 40

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External debt, local debt markets, financial crises, debt sustainability analysis

23.

Revisiting the Commodity Curse: A Financial Perspective

Downloads 112 (513,962)
Citation 1

Revisiting the Commodity Curse: A Financial Perspective

BIS Working Paper No. 609
Number of pages: 55 Posted: 08 Feb 2017
Enrique Alberola, Gianluca Benigno and Gianluca Benigno
Bank of Spain- International Dept and Federal Reserve Bank of New York
Downloads 47 (853,229)

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Commodity Resource Curse, Dutch-Disease, Financial Openness, Endogenous Growth

Revisiting the Commodity Curse: A Financial Perspective

CAMA Working Paper No. 14/2017
Number of pages: 54 Posted: 14 Feb 2017
Enrique Alberola, Gianluca Benigno and Gianluca Benigno
Bank of Spain- International Dept and Federal Reserve Bank of New York
Downloads 42 (895,892)

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Commodity Resource Curse, Dutch-Disease, Financial Openness, Endogenous Growth

Revisiting the Commodity Curse: A Financial Perspective

NBER Working Paper No. w23169
Number of pages: 53 Posted: 27 Feb 2017 Last Revised: 23 Apr 2023
Enrique Alberola, Gianluca Benigno and Gianluca Benigno
Bank of Spain- International Dept and Federal Reserve Bank of New York
Downloads 23 (1,100,236)
Citation 1

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24.

Does Informality Facilitate Inflation Stability?

BIS Working Paper No. 778
Number of pages: 42 Posted: 09 Apr 2019
Enrique Alberola and Carlos Urrutia
Bank of Spain- International Dept and Instituto Tecnológico Autónomo de México (ITAM) - Centro de Investigacion Economica
Downloads 106 (535,217)

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Informality, Inflation, Monetary Policy

25.

Boom-Bust Cycles, Imbalances and Discipline in Europe

Banco de Espana Working Paper No. 1220
Number of pages: 37 Posted: 16 Jun 2012
Enrique Alberola, Luis Molina and Pedro Del Rio Lopez
Bank of Spain- International Dept, Banco de España and Banco de España
Downloads 104 (542,639)
Citation 51

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Financial crisis, fiscal discipline, credit risk, euro area, CDS

26.

Assessing Fiscal Policy Through the Lens of the Financial and the Commodity Price Cycles

BIS Working Paper No. 638
Number of pages: 26 Posted: 07 Jun 2017
Enrique Alberola and Ricardo Sousa
Bank of Spain- International Dept and Independent
Downloads 89 (600,825)

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fiscal policy, financial cycles, commodity price cycles, fiscal impulse, fiscal consolidation, fiscal stimulus, cyclicality

27.

Global Imbalances from a Stock Perspective

Banco de Espana Working Paper No. 1742
Number of pages: 73 Posted: 01 Dec 2017
Enrique Alberola, Ángel Estrada and Francesca Viani
Bank of Spain- International Dept, Banco de España and Banco de España
Downloads 71 (683,239)
Citation 40

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Global Imbalances, Current Account, International Investment Position, External Debt, Growth

28.

International Reserves and Gross Capital Flows Dynamics

Fondo Latinoamericano de Reservas Discussion Paper No. 3
Number of pages: 25 Posted: 02 Aug 2014
Enrique Alberola, Aitor Erce and José María Serena
Bank of Spain- International Dept, UPNA and Bank for International Settlements (BIS)
Downloads 71 (683,239)
Citation 3

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gross capital flows, international reserves, systemic crises, capital retrenchment

29.

The Quest for Nominal and Real Convergence through Integration in Europe and Latin America

Banco de España Research Paper No. WP-0213
Number of pages: 41 Posted: 23 Apr 2007
Enrique Alberola, Ana Buisán and Santiago Fernández de Lis
Bank of Spain- International Dept, Banco de España and Banco de España
Downloads 69 (693,666)

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real convergence, macroeconomic stability, structural reform

30.

Post-Crisis Monetary Policy Frameworks: The Differences between Advanced and Emerging Economies

Number of pages: 9 Posted: 29 Apr 2012
Enrique Alberola
Bank of Spain- International Dept
Downloads 65 (715,378)
Citation 1

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31.

International Reserves and Gross Capital Flow Dynamics

BIS Working Paper No. 512
Number of pages: 29 Posted: 02 Oct 2015
Enrique Alberola, Aitor Erce and José María Serena
Bank of Spain- International Dept, UPNA and Bank for International Settlements (BIS)
Downloads 62 (732,647)
Citation 1

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Gross capital flows, international reserves, systemic crises, capital retrenchment

32.

Global Imbalances from a Stock Perspective. The Asymmetry between Creditors and Debtors

BIS Working Paper No. 707
Number of pages: 72 Posted: 15 Mar 2018
Enrique Alberola, Ángel Estrada and Francesca Viani
Bank of Spain- International Dept, Banco de España and Banco de España
Downloads 61 (738,352)
Citation 3

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global imbalances, current account,international investment position,external debt

33.

Say You Fix, Enjoy and Relax: The Deleterious Effect of Peg Announcements on Fiscal Discipline

Banco de España Research Paper No. WP-0523
Number of pages: 38 Posted: 23 Apr 2007
Enrique Alberola, Luis Molina and Daniel Navia
Bank of Spain- International Dept, Banco de España and Banco de España
Downloads 59 (750,588)
Citation 8

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exchange rates, fiscal discipline, peg announcement

34.

El Posicionamiento Exterior De La Economía Española (An Index of External Positioning for the Spanish Economy)

Banco de Espana Occasional Paper No. 1602
Number of pages: 62 Posted: 12 Aug 2016
Luis Molina, Esther Lopez Espinosa and Enrique Alberola
Banco de España, Banco de España and Bank of Spain- International Dept
Downloads 46 (841,414)

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external positioning, global growth trends, principal components analysis

35.

Fiscal Regimes and the Exchange Rate

Number of pages: 64 Posted: 25 Apr 2022
Paolo Cavallino, Enrique Alberola, Nikola Mirkov and Carlos Cantú
Bank for International Settlements (BIS), Bank of Spain- International Dept, affiliation not provided to SSRN and affiliation not provided to SSRN
Downloads 45 (849,265)

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Exchange Rate, monetary policy, fiscal policy, fiscal dominance, sovereign default

36.

Growth and Imbalances in Spain: A Reassessment of the Output Gap

Number of pages: 24 Posted: 19 Nov 2014
Enrique Alberola, Ángel Estrada and Daniel Santabárbara
Bank of Spain- International Dept, Banco de España and Banco de España
Downloads 44 (857,424)
Citation 1

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Spain, Sustainable growth, Macroeconomic imbalances

37.

Debt Sustainability Analysis with Conventional and Unconventional Monetary Policy

Number of pages: 39 Posted: 07 Nov 2024
Enrique Alberola, Gong Cheng, Andrea Consiglio and Stavros A. Zenios
Bank of Spain- International Dept, Bank for International Settlements (BIS), University of Palermo - d/SEAS and Durham University Business School
Downloads 35 (937,696)

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Debt sustainability analysis, unconventional monetary policy, optimal debt financing, PEPP, QQE

38.

Quo Vadis Euro?

European Journal of Finance, Vol. 8, No. 4, December 2002
Posted: 20 Jul 2003
Enrique Alberola, Susana G. Cervero, Humberto Lopez and Angel J. Ubide
Bank of Spain- International Dept, affiliation not provided to SSRN, World Bank - Research Department and Tudor Investment Corporation

Abstract:

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Equilibrium Exchange Rates, Panel Cointegration