Mar Delgado Téllez

Bank of Spain (Research Firm) is the investment research division of the government-owned Bank of Spain, locally known as Banco de España (BDE). Headquartered in Madrid, BDE’s research division conducts economic analysis and research of the following fields: the Spanish economy and its environment; domestic economic policy; European monetary policy, the international monetary and financial system and the stability of their financial system.

Fundación de las Cajas de Ahorros (FUNCAS) is an independent Spanish research firm which was founded in 1980. Headquartered in Madrid, the firm is dedicated to economic and social research and its dissemination, promoting interaction between the academic sphere and the real economy. FUNCAS is responsible for monitoring of the Spanish economic situation at the national, regional and European level and the short-term forecasts of the macroeconomic aggregates and the main indicators.