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    BBVA Research Publications

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    May 5, 2025

    Global | Commodities: volatility and conflicting trends

    Commodity markets, like other financial markets, have been unusually volatile in the last month, largely due to the trade policy announcements by the new United States administration.

    April 4, 2025

    Global | Unraveling the impact of a carbon price shock on macroeconomic variables

    This study analyzes the macroeconomic effects of carbon price shocks (EU-ETS) via a SVAR with Narrative Sign Restrictions. Facilitating identification and isolating shocks from demand factors, results indicate a stronger economic impact than previous carbon policy studies, but milder than recent works focused on the EU-ETS.

    March 15, 2025

    Spain | The Power Grid, the Overlooked Cornerstone of the Energy Transition

    Spain's electricity faces significant challenges. While recent efforts have focused on expanding wind and solar capacity, effective grid integration is equally crucial for a successful energy transition.

    March 13, 2025

    Colombia Economic Outlook. March 2025

    Colombia’s economy will grow 2.5% in 2025 and 2.9% in 2026, driven by consumption and investment. Inflation will continue declining, though housing and energy costs will remain rigid. Monetary policy will gradually lower rates, while the external deficit will widen due to rising imports and lower remittance inflows.

    March 4, 2025

    Mexico | Pemex’s new fields are producing fewer liquid hydrocarbons

    The production of new fields averaged around 521 thousand barrels a day of liquid hydrocarbons in the fourth quarter of 2024 vs. 549 thousand in the previous quarter.

    February 24, 2025

    Europe | Gas still keeps EU on edge

    Recent fluctuations in gas prices have had a considerable impact on both activity and inflation. Going forward, we see supply factors that can moderate these tensions.

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