Carlos Thomas

Banco de España

Economist

Alcala 50

Madrid 28014

Spain

http://www.bde.es

SCHOLARLY PAPERS

21

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1,822

SSRN CITATIONS
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Top 1,405

in Total Papers Citations

53

CROSSREF CITATIONS

652

Scholarly Papers (21)

1.
Downloads 235 (131,271)
Citation 16

Bank Leverage Cycles

Banco de Espana Working Paper No. 1222
Number of pages: 45 Posted: 15 Jun 2012
Galo Nuño and Carlos Thomas
Banco de España and Banco de España
Downloads 160 (186,998)
Citation 13

Abstract:

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financial intermediaries, short-term collateralized debt, limited liability, call option, put option, moral hazard, leverage

Bank Leverage Cycles

ECB Working Paper No. 1524
Number of pages: 42 Posted: 09 Apr 2013
Galo Nuño and Carlos Thomas
Banco de España and Banco de España
Downloads 75 (323,013)

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Financial intermediaries, short-term collateralized debt, limited liability, call option, put option, moral hazard, leverage, cross-sectional volatility

2.

Employment Fluctuations in a Dual Labor Market

Banco de Espana Working Paper No. 1013
Number of pages: 67 Posted: 23 Apr 2010
James S. Costain, Juan F. Jimeno and Carlos Thomas
Banco de España - Research Department, Banco de España - Research Department and Banco de España
Downloads 137 (212,319)
Citation 69

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Firing Costs, Temporary Jobs, Unemployment Volatility, Matching Model, Endogenous Separation

3.

House Purchase Versus Rental in Spain

Banco de Espana Working Paper No. 1108
Number of pages: 36 Posted: 22 Apr 2011
Eva Ortega, Margarita Rubio and Carlos Thomas
Bank of Spain, Research Department, University of Nottingham and Banco de España
Downloads 135 (214,770)
Citation 56

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Rental market share, subsidy to house purchases, subsidy to rents, rental market efficiency

4.

Banking Competition, Collateral Constraints and Optimal Monetary Policy

Banco de Espana Working Paper No. 1001
Number of pages: 45 Posted: 18 Feb 2010
Javier Andrés, Oscar Arce and Carlos Thomas
University of Valencia - Department of Economics, Banco de España and Banco de España
Downloads 120 (235,057)
Citation 72

Abstract:

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banking competition, lending spreads, collateral constraints, monetary policy, linear-quadratic method

5.

The Natural Interest Rate: Concept, Determinants and Implications for Monetary Policy

Banco de Espana Article 7/17
Number of pages: 10 Posted: 03 Mar 2017
Alessandro Galesi, Galo Nuño and Carlos Thomas
Banco de España, Banco de España and Banco de España
Downloads 119 (236,568)

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6.
Downloads 109 (252,014)
Citation 50

FiMod - A DSGE Model for Fiscal Policy Simulations

Banco de Espana Working Paper, No. 1110
Number of pages: 53 Posted: 26 May 2011
Nikolai Stahler and Carlos Thomas
Deutsche Bundesbank - Economics Department and Banco de España
Downloads 91 (286,466)
Citation 51

Abstract:

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DSGE model, fiscal policy, two-country monetary union, disaggregation of fiscal expenditures, labor market frictions

FiMod - a DSGE Model for Fiscal Policy Simulations

Bundesbank Series 1 Discussion Paper No. 2011,06
Number of pages: 68 Posted: 08 Jun 2016
Nikolai Stahler and Carlos Thomas
Deutsche Bundesbank - Economics Department and Banco de España
Downloads 18 (557,840)

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General Equilibrium, Fiscal Policy Simulations, Labor Market Search

7.

Optimal Monetary Policy with Heterogeneous Agents

Banco de Espana Working Paper No. 1624
Number of pages: 68 Posted: 20 Oct 2016
Galo Nuño and Carlos Thomas
Banco de España and Banco de España
Downloads 106 (256,869)
Citation 5

Abstract:

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optimal monetary policy, commitment and discretion, incomplete markets, nominal debt, inflation, redistributive effects, continuous time

8.

Comparing Fiscal Multipliers Across Models and Countries in Europe

ECB Working Paper No. 1760
Number of pages: 48 Posted: 12 Mar 2015
Bank of Finland - Research, Bank of Italy, European Central Bank (ECB), Sveriges Riksbank - Monetary Policy, Czech National Bank, Goethe University Frankfurt, Banco de España, Bank of Portugal, Bank of Estonia, Banque de France, University of Primorska, Sveriges Riksbank, Bank of Portugal, Central Bank of Malta - Modelling and Research Office, Bank of Greece, Czech National Bank (CNB), Bank of Greece, Banco de España and Facultés Universitaires Notre-Dame de la Paix (FUNDP) - Faculty of Economics, Management and Social Sciences
Downloads 106 (256,869)
Citation 1

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fiscal policy, output multipliers, model comparison, zero lower bound

9.

The Impact of Oil Price Changes on Spanish and Euro Area Consumer Price Inflation

Banco de Espana Occasional Paper No. 0904
Number of pages: 35 Posted: 11 Oct 2009
Banco de España, Banco de España, affiliation not provided to SSRN and Banco de España
Downloads 102 (263,859)
Citation 33

Abstract:

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oil prices, consumer price infl ation, Spanish and Euro area inflation, DSGE models

10.
Downloads 86 (294,564)
Citation 19

Optimal Monetary Policy with State-Dependent Pricing

ECB Working Paper No. 1250
Number of pages: 31 Posted: 05 Oct 2010
Anton Nakov and Carlos Thomas
European Central Bank (ECB) and Banco de España
Downloads 39 (441,571)

Abstract:

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optimal monetary policy, price stability, stochastic menu costs, state-dependent pricing

Optimal Monetary Policy with State-Dependent Pricing

Banco de Espana Working Paper No. 1130
Number of pages: 33 Posted: 10 Nov 2011
Anton Nakov and Carlos Thomas
European Central Bank (ECB) and Banco de España
Downloads 32 (473,647)
Citation 6

Abstract:

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monetary policy, state-dependent pricing, monopolistic competition

Optimal Monetary Policy with State-Dependent Pricing

FEDS Working Paper No. 2011-48
Number of pages: 33 Posted: 16 Nov 2011
Carlos Thomas and Anton Nakov
Banco de España and European Central Bank (ECB)
Downloads 15 (577,581)
Citation 10

Abstract:

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monetary policy, state-dependent pricing, monopolistic competition

Optimal Monetary Policy with State-Dependent Pricing

CEPR Discussion Paper No. DP9846
Number of pages: 43 Posted: 02 Jun 2014
Anton Nakov and Carlos Thomas
European Central Bank (ECB) and Banco de España
Downloads 0
Citation 1
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monetary policy, monopolistic competition, state-dependent pricing

11.

Monetary Policy and Sovereign Debt Vulnerability

Banco de Espana Working Paper No. 1517
Number of pages: 47 Posted: 25 Jun 2015
Galo Nuño and Carlos Thomas
European Central Bank (ECB) and Banco de España
Downloads 85 (296,683)
Citation 3

Abstract:

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monetary-fiscal interactions, discretion, sovereign default, continuous time, optimal stopping

12.

Collective Bargaining, Firm Heterogeneity and Unemployment

Banco de Espana Working Paper No. 1131
Number of pages: 35 Posted: 05 Dec 2011
Juan F. Jimeno and Carlos Thomas
Banco de España - Research Department and Banco de España
Downloads 75 (319,632)
Citation 40

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collective bargaining, firm-specific shocks, wage compression, unemployment

13.

Structural Reforms in a Debt Overhang

Banco de Espana Working Paper No. 1421
Number of pages: 47 Posted: 30 Jul 2014
Javier Andrés, Oscar Arce and Carlos Thomas
University of Valencia - Department of Economics, Banco de España and Banco de España
Downloads 71 (329,591)
Citation 7

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deleveraging, collateral constraints, long-run debt, structural reforms

14.

Search Frictions, Real Rigidities and Inflation Dynamics

Banco de España Working Paper No. 0806
Number of pages: 42 Posted: 14 Mar 2008
Carlos Thomas
Banco de España
Downloads 70 (332,171)
Citation 63

Abstract:

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search and matching, real rigidities, New Keynesian Phillips curve

15.

Spain in the Euro: A General Equilibrium Analysis

Banco de Espana Working Paper No. 0927
Number of pages: 47 Posted: 20 Jan 2010
University of Valencia - Department of Economics, Banco de España, Bank of Spain, Research Department and Banco de España
Downloads 55 (375,312)
Citation 52

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DSGE model, monetary union, growth and inflation differentials, Bayesian inference

16.

When Fiscal Consolidation Meets Private Deleveraging

Banco de Espana Working Paper No. 1622
Number of pages: 55 Posted: 12 Oct 2016
Javier Andrés, Oscar Arce and Carlos Thomas
University of Valencia - Department of Economics, Banco de España and Banco de España
Downloads 49 (395,206)
Citation 59

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fiscal consolidations, long term private debt, financial shock

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fiscal consolidation, general equilibrium, fiscal multipliers, confidence effects

18.

Labor Market Reform and Price Stability: An Application to the Euro Area

Banco de Espana Working Paper No. 0818
Number of pages: 37 Posted: 18 Sep 2008
Carlos Thomas and Francesco Zanetti
Banco de España and Bank of England
Downloads 34 (453,103)
Citation 39

Abstract:

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Labor market policies, Search and matching frictions, New Keynesian model

19.

A Large Central Bank Balance Sheet? Floor vs Corridor Systems in a New Keynesian Environment

Banco de Espana Working Paper No. 1851
Number of pages: 75 Posted: 08 Jan 2019
Oscar Arce, Galo Nuno, Dominik and Carlos Thomas
Banco de España, Banco de España, Banco de España and Banco de España
Downloads 29 (476,302)
Citation 18

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central bank balance sheet, interbank market, search and matching frictions, reserves, zero lower bound

20.

The Eurosystem’s Monetary Policy Following the End of Net Asset Purchases

Banco de Espana Article 4/19
Number of pages: 11 Posted: 26 Feb 2019
Oscar Arce, Galo Nuno and Carlos Thomas
Banco de España, Banco de España and Banco de España
Downloads 26 (492,116)

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central bank balance sheet, unconventional monetary policy, reinvestments

21.

Policy Spillovers and Synergies in a Monetary Union

ECB Working Paper No. 1942
Number of pages: 65 Posted: 28 Aug 2016
Oscar Arce, Samuel Hurtado and Carlos Thomas
Banco de España, Banco de España and Banco de España
Downloads 25 (497,587)

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monetary union, deleveraging, zero lower bound, structural reforms, synergies