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Macroeconomic Adjustment under Loose Financing Conditions in the Construction Sector 

Date: 04/2013 Author(s): Arce, Oscar; Campa, José Manuel; Gavilán, A. Editor(s): Cátedra de Dirección de Instituciones Financieras y Gobierno Corporativo Grupo Santander Document type: Article in Journal (refereed) We provide a model with sector-specific debt-collateral constraints to analyze how asymmetric financing conditions across sectors affect the aggregate investment, credit and output composition. In our model, investments in the construction sector allow for higher leverage than investments in the non-durable consumption goods sector. When borrowing ... More information Read related article

Fiscal Challenges in the Euro Zone 

Date: 12/2012 Author(s): Campa, José Manuel Editor(s): Cátedra de Dirección de Instituciones Financieras y Gobierno Corporativo Grupo Santander Document type: Article in Journal (refereed) Fiscal challenges in the Euro zone have been at the center of global economic concern in the last 2 years. Despite lower debt burdens, and higher fiscal efforts taken by Euro countries, a perception of high fiscal risk remains. This paper reviews the fiscal challenges facing the Euro area countries and the measures taken at the Euro area level to manage ... More information Read related article

Prácticas de gobierno corporativo 

Date: 10/2006 Author(s): Campa, José Manuel; López de la Torre, Tomás Editor(s): Cátedra de Dirección de Instituciones Financieras y Gobierno Corporativo Grupo Santander Document type: Study and Monograph Últimamente, cuando se habla de Gobierno Corporativo se suele pensar en cuestiones relacionadas con el cumplimiento de Códigos de Buen Gobierno y de tensiones entre accionistas y consejeros, pero ¿realmente preocupan estos temas a los consejos de las empresas? ¿Cuáles son sus verdaderas inquietudes? El estudio "Prácticas de Gobierno Corporativo", realizado ... More information
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