April, 24 2022




Departamento de Análisis Económico
Facultad de Economía
Avda. dels Tarongers s/n.  Edifici Oriental, 46022 Valencia (SPAIN)

Tel:   +34 963828260, +34 963828249(sec.) ;  Fax: +34 963828249
E-mail: javier.andres@uv.es


PROMETEO HISMAC Generalitat Valenciana



La era de la disrupción digital

Empleo, desigualdad y bienestar social ante las nuevas tecnologías globales

J. Andrés y R. Doménech

@EdicionesDeusto Febrero, 2020.

       CV here and here


 Selected papers


Deciphering the Macroeconomic Effects of Internal Devaluations in a Monetary Union  (with O. Arce, J. Fernández-Villaverde, and S. Hurtado), International Journal of Central Banking 2022, forthcoming. (NBER WP 27347 and Centre for Economic Policy Research, DP14829. 2020)

Household's Balance Sheets and the Effect of Fiscal Policy (with J. Boscá, J. Ferri and C. Fuentes-Albero), Journal of Money, Credit and Banking, 2022, Vol. 54, nº 4, pp. 737-778.

When Fiscal Consolidation Meets Private Deleveraging, (with O. Arce, D. Thaler and C. Thomas) Review of Economic Dynamics, 2020, vol. 37, pages 214-233.

Implict Public Debt Thresholds: An operational proposal, (with M. Alloza, J. Pérez and J. Rojas), Journal of Policy Modeling, 2020, Volume 42, Issue 6, Pages 1408-1424.

Inflation and optimal monetary policy in a model with firm heterogeneity and Bertrand competition, (with P. Burriel). European Economic Review, 103, 2018, Pages 18-38

Structural reforms in a debt overhang (with O. Arce and C. Thomas). Journal of Monetary Economics, 88, 2017, 15–34.

Instruments, Rules and Household Debt: The Effects of Fiscal Policy (with J. Boscá and J. Ferri). Oxford Economic Papers, 68, 2016 419-443

Household Debt and Fiscal Multipliers  (with J. Boscá and J. Ferri).  Economica, 82, 2015, 1048-1081.

Banking Competition, Collateral Constraints and Optimal Monetary Policy (with O. Arce and C. Thomas). Journal of Money, Credit and Banking, Blackwell Publishing, vol. 45, 2013, pages 87-125.

Household Debt and Labor Market Fluctuations (with J. Boscá and J. Ferri). Journal of Economic Dynamics and Control, Volume 37, Issue 9, September 2013, Pages 1771–1795.

Banking Competition, Housing Prices and Macroeconomic Stability (with Oscar Arce). The Economic Journal, Vol. 122, 2012, 1346–1372.

Money and the Natural Rate of Interest: Structural Estimates for the United States and the Euro Area (with J.D. López-Salido and Ed. Nelson). Journal of Economic Dynamics and Control Vol. 33, 2009, 758-776

Competition and Inflation Differentials in EMU (with E. Ortega and J. Vallés). Journal of Economic Dynamics and Control 32, 2008, 848—874.

The Stabilizing Role of Government Size (with R. Domenech and A. Fatás). Journal of Economic Dynamics and Control 32, 2008, 571--593.

Money in an Estimated Business Cycle Model of the Euro Area (with J.D. López-Salido and J. Vallés).  The Economic Journal, 2006, 116 (April), 457--477.

Automatic Stabilizers, Fiscal Rules and Macroeconomic Stability (with R. Domenech). European Economic Review, 2006, 50(6), 1487-1506.

Sticky Price Models and the Natrual Rate Hypothesis (with J.D. López-Salido and Ed. Nelson). Journal of Monetary Economics,  2005, 52, 1052-1073, 2005.

  Working papers and work in progress


La reforma del marco de gobernanza de la política fiscal de la Unión Europea en un nuevo entorno macroeconómico (with M. Alloza, P. Burriel, I. Kataryniuk, J. Pérez and J.L. Vega) Banco de España, Documento Ocasional 2121. 2021

Market polarization and the Phillips curve(with O. Arce and P. Burriel) Banco de España, Documento de Trabajo 2106. 2021 

Debt Sustainability and Fiscal Space in a Heterogeneous Monetary Union: Normal Times vs the Zero Lower Bound (withP- Burriel and Wenyi Shen) Banco de España, Documento de Trabajo 2001. 2020 

Price Rigidity and the Volatility of Vacancies (with R. Doménech and J. Ferri). New draft, 2011.

BEMOD: a DGSE  model for the Spanish economy and the rest of the Euro Area  (with P. Burriel-Llombart and A. Estrada). Banco de España, Documento de Trabajo 0631, 2006.

Non-Ricardian fiscal policies in an open monetary union (with F. Ballabriga and J. Vallés). European Commission, Economic Papers, n° 169 - April 2002.

Teaching and lecture notes


Macroeconomics I (in English)

Macroeconomics II (in English)

Macroeconomía I (in Spanish)

Macroeconomía II (in Spanish)

Dynamic Macroeconomics (in English)

Macroeconomía Dinámica (in Spanish)

Macroeconomics Graduate Course (in English)



Banco de España          

AIReF (Independent Authority for Fiscal Responsibility)

Department of Economics. University of Glasgow

Nada es Gratis

Asociación Española de Economía

European Central Bank

VoxEU (CEPR Policy Portal)