19/07/2021
CEMFI has renewed its “María de Maeztu Unit of Excellence” distinction for the period 2022-2025.

The Spanish Ministry of Science and Innovation has announced that CEMFI is one of the 6 units that has been officially proposed for a "Maria de Maeztu Unit of Excellence" distinction for the period 2022-2025 among the 33 units that applied for it. This distinction is associated to a 1.8 million euro funding for research and graduate education and it is the renewal of the distinction that CEMFI obtained for the period 2017-2021.

02/07/2021
Graduation of the students of the class of 2021 of the Master in Economics and Finance.

In his speech, the Governor of Banco de España stated that the investment in human capital is essential for long-term growth and that, in that respect, CEMFI is an example of "academic institutions that are international leaders in their field of expertise, that can produce groundbreaking research and that are able to attract talent from any part of the world."

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29/06/2021
Rafael Repullo has been appointed member of the Scientific Advisory Board of the Faculty of Business, Economics, and Statistics of the University of Vienna

18/06/2021
Monica Martinez-Bravo has received the XX Fundación Banco Sabadell Award.

Press release and profile of the awardees (in Spanish)

10/06/2021
Luis Servén has been appointed member of the Governing Council of Banco de España.

04/06/2021
CEMFI invites applications for a Research Assistant position.

02/06/2021
The AEAC interviews Rafael Repullo to talk about CEMFI (in Spanish)

12/05/2021
CEMFI invites applications for two Research Assistant positions

07/05/2021
Monica Martinez-Bravo is interviewed about her research on mass vaccination by VoxEU/CEPR.

29/04/2021
Applications for the CEMFI Summer School 2021 are now welcome.

Information about the eleven courses offered, some online and others in a hybrid format, is available here. The deadline for applications is 11 June.

23/03/2021
Samuel Bentolila has been appointed to the Advisory Board of the Spanish Independent Authority for Fiscal Responsibility (AIReF)

04/03/2021
In collaboration with Banco de España, CEMFI will organize the Third Conference on Financial Stability on 18-19 October 2021.

The call for papers is here .

23/02/2021
Tom Zohar will be joining CEMFI's faculty next academic year. His research area is labor economics.

23/02/2021
Liyang Sun will be joining CEMFI’s faculty in the summer of 2022. Her research area is econometrics.

16/02/2021
CEMFI launches the sixth edition of its Undergraduate Internship Program.

15/02/2021
Rafael Repullo writes a critical review of the deposits channel of monetary policy in VoxEU.org.

01/02/2021
Dmitry Arkhangelsky receives funding from Fundación Ramón Areces to study estimation under sequential exogeneity.

In this project, we focus on the estimation of causal effects with panel data under the assumption of sequential exogeneity. Sequential exogeneity is rarely used in applied "reduced form" papers despite being a well-known and widely recognized econometric concept. Instead, most of the empirical work is done under a more restrictive (and often implicit) assumption of strict exogeneity. This project's primary goal is to show that sequential exogeneity is a natural and useful concept for empirical work. To achieve this goal, we follow three steps. First, using recent ideas from causal literature, we construct a flexible estimator that can be used instead of the standard ordinary least squares and provide its interpretation in a rich causal model. Second, we analyze the statistical properties of this estimator in different regimes (long and short panels) and illustrate the main trade-offs one has to face. Finally, we apply the new estimator to recently published empirical papers that use a standard OLS approach to see if sequential exogeneity changes the results in an economically important way.

01/02/2021
Here is a summary of the paper "The Labor Market Impact of Immigration: Job Creation versus Job Competition" by Christoph Albert, published in the American Economic Journal: Macroeconomics.

27/01/2021
Fundación Carolina, in cooperation with BBVA, endows two scholarships for Latin American students of the Master in Economics and Finance.

14/01/2021
Do you want to learn more about CEMFI’s Master and PhD programs? Join us for an online meeting this Friday, 15 January, at 12:00 (CET) registering here.