CEMFI faculty have won several highly competitive grants awarded by international and national funding agencies. These include five of the prestigious grants awarded by the European Research Council (ERC), as well as grants from the Russell Sage Foundation, the Fundación Ramón Areces, the regional Government of Madrid and the Government of Spain.

Currently supported projects include:



European funding agencies

  • Socio-Economic Challenges and Opportunities of the Energy Transition (European Research Council , 2025-2030)

    Researchers: Natalia Fabra (PI), Gerard Llobet.

  • City buzz: Quantity, quality, and variety implications of the urban environment (European Research Council , 2024-2029)

    Researchers: Diego Puga (PI).


Spanish funding agencies

  • Talent Attraction Grants for Researchers 'César Nombela' (Community of Madrid, 2025-2030)

    Researchers: Kurt Mitman (PI).

  • Advances in Applied Microeconomics (Ministerio de Ciencia, Innovación y Universidades, 2025-2028)

    Researchers: Gerard Llobet (Co-PI), Pedro Mira (Co-PI), Guillermo Caruana.

  • Ayuda predoctoral (Ministerio de Ciencia, Innovación y Universidades, 2024-2028)

    Researchers: .

  • Ayuda predoctoral (Ministerio de Ciencia, Innovación y Universidades, 2024-2028)

    Researchers: .

  • Income dynamics, employment dynamics, fertility decisions, and cultural norms: implications for gender and labor market inequality (Ministerio de Ciencia, Innovación y Universidades, 2025-2028)

    Researchers: Tom Zohar (Co-PI), Manuel Arellano (Co-PI), Giulia Buccione.

  • Ramón y Cajal Grants (Ministerio de Ciencia, Innovación y Universidades, 2024-2028)

    Researchers: Dmitry Arkhangelsky (PI).

  • Economic and Social Effects of Climate and Energy Policies (CLIMAD-CM) (Comunidad de Madrid, 2025-2027)

    Researchers: Natalia Fabra (Co-PI), Gerard Llobet (Co-PI).

  • IMPACT: Integrated Modelling for Physical Assessment of Climate Threats (Ministerio de Ciencia, Innovación y Universidades, 2025-2027)

    Researchers: Natalia Fabra (PI).

  • Inequality, Exchange Rates, and Capital Flows (IneqEx) (Ministerio de Ciencia, Innovación y Universidades, 2024-2027)

    Researchers: Sebastián Fanelli (Co-PI), Kurt Mitman (Co-PI).

  • Juan de la Cierva Training Grants (Ministerio de Ciencia, Innovación y Universidades, 2025-2027)

    Researchers: Giulia Buccione (PI).

  • Movements of Firms and Households across Cities (CITYMOVES) (Ministerio de Ciencia, Innovación y Universidades, 2024-2027)

    Researchers: Nezih Guner (Co-PI), Diego Puga (Co-PI).

  • Ramon y Cajal Grants (Ministerio de Ciencia, Innovación y Universidades, 2023-2027)

    Researchers: Sebastián Fanelli (PI).

  • Financial Intermediation and Aggregate Performance (Ministerio de Ciencia e Innovación, 2023-2026)

    Researchers: Rafael Repullo (Co-PI), Javier Suárez (Co-PI).

  • Inferences in models with hidden variables in macroeconomics and finance (HiddenVar) (Ministerio de Ciencia e Innovación, 2022-2026)

    Researchers: Enrique Sentana (Co-PI), Dante Amengual (Co-PI).

  • New panel data methods with empirical applications in impact evaluation and health economics (Ministerio de Ciencia e Innovación, 2023-2026)

    Researchers: Dmitry Arkhangelsky (PI), Liyang Sun, Siqi Wei.

  • "María de Maeztu" Unit of Excellence (Ministerio de Ciencia e Innovación, 2022-2025)

    Researchers: Nezih Guner (PI), Diego Puga, Manuel Arellano, Samuel Bentolila, Rafael Repullo, Javier Suárez, Dante Amengual.

  • Juan de la Cierva Training Grants (Ministerio de Ciencia, Innovación y Universidades, 2024-2025)

    Researchers: Tom Zohar (PI).


Private institutions

  • Inequality in Working Opportunities (La Caixa Foundation, 2025-2027)

    Researchers: Josep Pijoan (PI).

  • The Significance of Depression (Rockwool Foundation , 2024-2027)

    Researchers: Tom Zohar (PI).

  • Firms, Family-Friendly Policies and Fertility (La Caixa Foundation, 2023-2025)

    Researchers: Nezih Guner (PI).


Research chairs