Adapting homes to use the energy consumed by the household that lives in them as efficiently as possible is one of the factors that most determines their living conditions, and its importance keeps growing: rising energy prices have increased the cost of living in an inefficient home, and climate change is intensifying thermal stress, above […]

With the execution deadline of August 2026 already in sight, EsadeEcPol presents the update of its NextGenEU Tracker with data as of 12 March 2026. The report examines a programme entering its final sprint: progress is substantial, but the gap between called and awarded funds, fund concentration, and administrative bottlenecks pose critical challenges in the […]

Every six months, with the support of Banco Sabadell, Esade publishes the Informe Económico y Financiero (Economic and Financial Report), which now reaches its 38th edition under the title The Europe that is missing: capabilities for a hostile world. Through it, Esade maintains its commitment to contributing to public debate with rigorous and plural analysis […]

El RealTimeTracker, nuestro modelo de seguimiento y pronóstico en tiempo real, estima que un crecimiento trimestral del PIB del 0,7% en el 1T26, en línea con el promedio de los últimos trimestres. También anticipa, con información aún muy incompleta, una desaceleración en el 2T26 hasta el +0,4%, indicando que el mantenimiento del dinamismo de la […]

• The RealTimeTracker, our real-time monitoring and forecasting model, estimates quarterly GDP growth of 0.7% in Q4 2025, in line with the average of the last four quarters. With still very incomplete information, it also anticipates a slight acceleration in Q1 2026 (+0.8%), indicating that the Spanish economy’s momentum would continue in the short term. […]

This study, part of the Savings Observatory we run with Fundación Mutualidad de la Abogacía, provides an in-depth analysis of how wealth accumulation has evolved over time and across household compositions by age group, also including some particularly relevant cross-cutting dimensions. First, we look at the evolution of wealth using the Survey of Household Finances […]

The RealTimeTracker, our real-time monitoring and forecasting model, estimates GDP growth of 0.7% in Q3 2025, in line with the figures recorded in recent quarters. It also anticipates, with still very incomplete information, an increase of +0.5% in Q4, which would suggest a moderate slowdown in growth in the final quarter of the year. The 0.7% increase would have […]

In collaboration with Implement Consulting Group · With the support of Google ↓ Download the report  AI offers great potential to improve the delivery of public services while addressing particularly pressing challenges in the current Spanish context, such as reducing bureaucratic burdens and improving interactions with citizens. In a context like the current one, with […]

Since the launch of the European Recovery and Resilience Facility (RRF), analyzing and tracking the execution of funds allocated to Spain has been essential to evaluate not only economic absorption but also their capacity to drive significant transformations in the Spanish economy, as outlined in the Recovery, Transformation, and Resilience Plan. At EsadeEcPol, we have […]

Decarbonization, inevitable in the current context, presents an opportunity to develop technologies that drive the energy transition. While Spain has experienced a decline in its industrial sector, the shift to a decarbonized economy opens a window to reverse this trend. The goal is not just reindustrialization but doing so in high-value-added sectors that promote quality […]

The adoption of cleaner or more efficient technologies usually occurs earlier in higher-income households or those defined by other variables facilitating the costs associated with such adoption. In a context where the shared objective is decarbonizing the economy, public policy should ensure that adoption is as comprehensive and equitable as possible, making these technologies equally […]

The RealTimeTracker, our real-time monitoring and forecasting model, estimates that quarterly GDP growth would stand at +0.7% in Q1 2025, easing very slightly compared with recent quarters. This +0.7% growth is driven by the revision of the national accounts and recent investment indicators. Labour indicators (Social Security registrations), demand indicators (retail consumption) and supply indicators […]

Spain has set very ambitious goals for the decarbonization of the transport sector: a 34% reduction in CO2 emissions by 2030, 60% by 2040, and 90% by 2050. In the long term, structural changes (development of railway infrastructure, penetration of electric vehicles, modification of transport supply and demand…) will play a central role in achieving […]

→ Seasonal rentals in Barcelona have grown from 2.1% of total listings in 2019 to 14.4% in 2023: their relative share has increased sevenfold. → In Madrid, they have also grown exponentially, though less intensely: from 4% to 10% (3.5 times). → Meanwhile, the share of long-term rental listings among total advertisements has dropped in […]

Macro analysis in partnership with EY Insights. The RealTimeTracker, our real-time tracking and forecasting model, estimates that GDP quarterly growth will be at +0.6% in Q4 2024, showing moderation compared to previous quarters. Service indicators drove this GDP growth in the quarter, while investment in capital goods and construction contributed less. Despite this moderation, we […]

Macro outlook, global focus and micro perspective for September 2024. Macro outlook The RealTimeTracker, our real-time monitoring and forecasting model, estimates that quarterly GDP growth would be around +0.6% in Q3 2024, easing slightly from 0.8% in Q1 and Q2. This introduces an upside bias to the projections for the year as a whole, and […]

Macro outlook, global focus and micro perspective for June 2024. Macro outlook The RealTimeTracker, our real-time monitoring and forecasting model, estimates that quarterly GDP growth would stand between +0.4% and +0.5% in Q2 2024, easing from 0.7% in Q1 2024. The balance of risks has not changed substantially and annual growth would remain at +2.3%, […]

Macro outlook, global focus and micro perspective for May 2024. Macro outlook The RealTimeTracker, our real-time monitoring and forecasting model, estimates that quarterly GDP growth could reach +0.5% in Q2 2024. Annual growth would stand at 2.3%, two tenths lower than in 2023 but triple the figure projected for the Eurozone. All of this is […]

Macro outlook, global focus and micro perspective for March 2024. Macro outlook The RealTimeTracker, our real-time monitoring and forecasting model, estimates that quarterly GDP growth will reach +0.8% in Q1 2024, beating expectations from the start of the year. We anticipate somewhat more moderate growth in Q2 2024. The tentative reading of the first half […]

This study proposes the most in-depth and detailed analysis of gender inequality in STEM fields in Spain to date. Distinctively, we focus on areas with a significant emphasis on mathematics, where the most pronounced gaps occur; we cover everything from basic education, thanks to the latest PISA results, to the professional career, for which we […]

Macro outlook, global focus and micro perspective for January 2024. Macro outlook The RealTimeTracker, our real-time monitoring and forecasting model, estimates that Spanish GDP will close Q4 2023 with growth of +0.5%. We therefore estimate that 2023 would have ended with growth of +2.4%. On a preliminary basis, for Q1 2024 we anticipate growth similar […]

The functioning of the European electricity market needs new instruments to encourage investment in large-scale renewable energy projects and storage. Although in theory markets such as the European could incentivize investment, in practice they have failed to do so. In fact, at a certain point of maturity, the price decline in the electricity markets reduced […]

Macro outlook, global focus and micro perspective for November 2023. Macro outlook The Spanish economy remains in positive territory in the final stretch of the year: the RealTimeTracker estimates positive GDP growth in Q4 2023 (+0.2%), showing a trend of gentle slowdown in recent quarters, but growth figures higher than those anticipated months ago. Annual […]

The urgent need for decarbonization has broadened the scope of transportation policy from improving network conditions, such as reducing congestion or improving accessibility, to include sustainability considerations, promoting zero-emission mobility, and climate change adaptation measures. While these measures are critical in reducing the carbon footprint of the transportation sector, they can also have unintended social […]

As the volatility of short-term energy market prices increases due to exogenous shocks and the changing nature of the energy mix market interventions are gaining importance in the policy debate. Accurate and robust quantification of their impact is becoming therefore essential. This paper conducts a causality analysis to evaluate the Spanish ‘gas cap’ for electricity […]

The transition to adulthood for those born between 1980 and 2005 has been marked by multiple economic and social crises, particularly affecting young people in southern Europe and, more generally, in the Mediterranean basin. Our study updates and expands on previous research, incorporating data from a novel, comprehensive and ambitious multi-country survey covering young people […]

Key ideas → With the available evidence, we cannot claim that the subsidy for metropolitan rail transport has reduced the number of cars on the streets of Madrid. → Nor is there any effect for the areas with the highest traffic intensity, lower (or higher) income levels, the main access roads to the city (M-30), […]

Spain has practically the same real per capita income as 15 years ago, while other countries around us are much richer than they were then. This means that over the last eighteen years we have not improved our average standard of living. We are therefore on the road to two lost decades. There are many […]

Macro outlook, global focus and micro perspective for October 2023. Macro outlook: The Spanish economy is entering negative territory in the short term: the RealTimeTracker, our real-time monitoring and forecasting model, estimates negative GDP growth in Q3 2023: -0.1%. This rate, which already takes into account the INE revision of the national accounts published on […]

Between 2013 (the historical peak) and 2023, Spain lost 450,000 children under the age of 16, that is, potential pupils in the compulsory stages of early childhood and compulsory education. By 2037 the figure will exceed 1 million children. The education system will go from having to absorb 7.5 million to fewer than 6.5 million […]

Macro outlook, global focus and micro perspective for September 2023. Macro outlook The outlook for the Spanish economy is positive in the short term: the RealTimeTracker, our real-time monitoring and forecasting model, estimates quarter-on-quarter GDP growth of around +0.6% in Q2 2023, in line with the Q1 2023 figure. However, specific indicators show mixed trends: […]

Key ideas → The differences between inhabitants of cities and small municipalities regarding green transition policies are limited to specific policies, rather than general attitudes, values or emotions → Significant differences are observed between people in large and small municipalities regarding vehicles, the installation of renewables and, to a lesser extent, farming operations. → These […]

Macro outlook, global focus and micro perspective for June 2023. Macro outlook The growth forecasts for the Spanish economy are positive in the short term: we estimate quarter-on-quarter GDP growth of around +0.5% in the second quarter. The services sector is driving this growth, which means that if its performance cools relative to expectations, growth […]

The new housing policy aims to solve the evident rental problems in Spanish cities through price controls in stressed areas and an effort to increase the supply of social rental housing. The effort on access is promising and goes in the right direction to solve the problem, while the controls could prove counterproductive. The commitment […]

Only 8.3% of households receive any energy social bonus, even though 14.3% reported having problems keeping their home at an adequate temperature in 2021, the latest available data. This percentage only rises to 17% among the third of households with the lowest income, and falls rapidly as we look at middle- and upper-middle-class households, covering […]

The most notable measure to curb the escalation of electricity prices during 2022 has been the temporary gas price cap implemented in Spain and Portugal. This is a compensation paid to combined cycle gas turbines (CCGT), coal, and cogeneration plants to lower the price offered in the wholesale market, thus seeking a decrease in the […]

This policy brief is a summary of the academic working paper by Ángel Martínez Jorge and Javier Martínez Santos, which you can find here. Sugar taxes have become the benchmark measure to discourage the consumption of a product considered to be strongly associated with obesity, especially childhood obesity. In 2021 Spain raised VAT from 10% […]

Spanish citizens agree on the existence and seriousness of climate change: only 5% give it little importance (EsadeEcPol 2022), barely 8% think it is not real (CIS 2022) and for 71% its consequences are already visible. But this consensus on recognising the climate crisis fades when we focus on the measures to tackle it. In […]

The initial draft of the 2023 General State Budget anticipates an increase of some 25 billion euros in social spending compared with 2022. Of this, around 19.5 billion will go to pensions, and 12.43 billion specifically to the general 8.5% indexation announced by the government. In other words: half of the new social spending goes […]

One of the most significant measures enacted so far to moderate the escalation of electricity costs is the gas cap implemented exceptionally in Spain and Portugal. This so-called cap is a compensation paid to electricity companies using this fossil fuel to lower the price offered in the wholesale market. In doing so, it is intended […]

La transición verde es uno de los mayores retos de política pública y económica a los que se enfrenta España. Sin embargo, sabemos aún poco hasta qué punto nuestra sociedad está polarizada o dividida en torno a las medidas que debemos abordar, o al menos considerar, para reducir los efectos del cambio climático y descarbonizar […]

To better understand the consensus and divisions around the crucial challenge of the green transition, EsadeEcPol has conducted a survey that is pioneering in its breadth and depth. Here we present its key results and the resulting snapshot of public opinion.  The fundamental consensus begins with the high importance attached to the problem of climate […]

The new goal of ending EU reliance on Russian energy is in addition to and must be reconciled with the existing goal of decarbonising the Spanish economy. This reconciliation seems obvious in the very long term, but in the short and medium terms, it poses challenges for Spain and other countries: The immediate upward pressure […]

Amidst the energy crisis exacerbated by the Russian invasion of Ukraine, we publish this joint paper with think tanks from all over Europe (AMO, Bruegel, ECCO, and the Jacques Delors Institute) to summarise and assess the economic policy approaches each country has taken. Our deputy director, Jorge Galindo, focuses on the Spanish part.

The need to align the goals of decarbonisation and energy independence from Russia increases the need for policies to rationalise our energy consumption. The most promising policies for doing so are those that affect the price of energy through taxes and similar instruments, especially for households, individuals and commercial establishments, for two reasons: They maintain […]

The short- and medium-term effect of the economic decoupling between Russia and Europe resulting from the invasion of Ukraine is a double blow to Spaniards’ purchasing power, combining rising inflation and slowing GDP growth. We expect the crisis to reduce Spain’s expected growth for 2022 by more than 1%, with upside risks. Inflation, for its […]

El próximo mes de mayo Colombia acudirá a las urnas en unas elecciones que se presentan especialmente polarizadas. Para explorar cómo ha evolucionado hasta la actualidad el país que firmó la paz hace solo seis años, tras un conflicto civil vigente durante cinco décadas, EsadeEcPol y la Fundación Felipe González organizan una nueva sesión de KAVA- […]

En esta nueva sesión de KAVA – Grupo de Reflexión, Míriam Juan-Torres, investigadora sénior global de More in Common (MiC), con experiencia en polarización, derechos humanos y violencia política, reflexionará sobre el estado de la polarización en España a partir de una nueva encuesta realizada por MiC, identificando y comentando los puntos de tensión y distensión más relevantes […]

Ómicron supone un paso crucial en la conversión de pandemia a endemia: nos confirma que el SARS-CoV-2 es un virus con el que probablemente conviviremos durante un largo tiempo.

The European Commission proposed last July a Carbon Border Adjustment Mechanism (CBAM) devoted to tax imported products based on their carbon content, hence subjecting them to the same carbon price as European products and reducing the risk of leakage.

En el presente documento analizamos al detalle los componentes clave (control de precios, medidas fiscales y aumento de oferta) de la nueva y ambiciosa Ley de Vivienda presentada por el Gobierno.

Sobre la existencia de un tope final para la edad de jubilación, apenas hay desacuerdo, pero una brecha se está abriendo en el debate público respecto a dónde y cómo debería funcionar este tope. 

Twenty per cent of the companies operating on January 1st 2020 in Spain no longer existed a year later.

The evidence gathered elsewhere shows that rent regulation policies cause countless effectiveness and fairness issues.

Spain has suffered a double whammy during the pandemic.

The vaccine is the only clear solution to the pandemic that Spain and the rest of the world can see.

We analyse to what extent our economy is prepared for working from home and how teleworking has evolved in Spain.

Reopening schools weighs the health risks of returning to the classroom against the educational, social and economic costs of keeping schools closed.

The economic crisis triggered by Covid-19 came almost as fast as the virus spread throughout the world.

This article uses assumptions based on available healthcare data to draw up three possible economic impact scenarios.

The best epidemiological information available warns that a period of social isolation is not enough.

The immediate objective of public policy has to be to ensure that workers do not go unprotected.