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España | ¿Qué dicen 240.000 nuevas operaciones de crédito sobre el impacto de fondos NGEU?
[Spain | What can 240,000 new credit transactions tell us about the impact of NGEU funds?]

Author

Listed:
  • Alvaro Ortiz
  • Tomasa Rodrigo
  • David Sarasa Flores
  • Pedro Torinos
  • Sirenia Vázquez

Abstract

Utilizando un modelo de proyecciones locales de datos de panel y controlando las características de las empresas, los atributos de las licitaciones y las condiciones macroeconómicas, el estudio estima los efectos dinámicos de las adjudicaciones de contratos Using a panel data local projections model and controlling for firm characteristics, procurement bid attributes, and macroeconomic conditions, the study estimates the dynamic effects of procurement awards on new lending, a more precise measure than the change in the stock of credit.

Suggested Citation

  • Alvaro Ortiz & Tomasa Rodrigo & David Sarasa Flores & Pedro Torinos & Sirenia Vázquez, 2025. "España | ¿Qué dicen 240.000 nuevas operaciones de crédito sobre el impacto de fondos NGEU? [Spain | What can 240,000 new credit transactions tell us about the impact of NGEU funds?]," Working Papers 25/03, BBVA Bank, Economic Research Department.
    • Handle: RePEc:bbv:wpaper:2503
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    References listed on IDEAS

    as
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    3. Hebous, Shafik & Zimmermann, Tom, 2021. "Can government demand stimulate private investment? Evidence from U.S. federal procurement," Journal of Monetary Economics, Elsevier, vol. 118(C), pages 178-194.
    4. Gabriel, Ricardo Duque, 2024. "The Credit Channel of Public Procurement," Journal of Monetary Economics, Elsevier, vol. 147(S).
    5. Peter Ganong & Pascal Noel, 2019. "Consumer Spending during Unemployment: Positive and Normative Implications," American Economic Review, American Economic Association, vol. 109(7), pages 2383-2424, July.
    6. Claudio Ferraz & Frederico Finan & Dimitri Szerman, 2015. "Procuring Firm Growth: The Effects of Government Purchases on Firm Dynamics," NBER Working Papers 21219, National Bureau of Economic Research, Inc.
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    8. Michael Weber & Ali Ozdagli, 2016. "Monetary Policy Through Production Networks: Evidence from the Stock Market," 2016 Meeting Papers 148, Society for Economic Dynamics.
    9. Jordi Galí & J. David López-Salido & Javier Vallés, 2007. "Understanding the Effects of Government Spending on Consumption," Journal of the European Economic Association, MIT Press, vol. 5(1), pages 227-270, March.
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    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • H57 - Public Economics - - National Government Expenditures and Related Policies - - - Procurement

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