Macroeconomics and Financial Econometrics (MacroMetrics)

General data

Field of study:

Social Sciences and Law Studies

Coordinator:

PAYÁ SASTRE, IVÁN

Website:

E-mail:

ivanpaya@ua.es

Telephone:

+34 965903400 x 3226

Annual reports

Annual report

Productividad, Cambios Económicos Estructurales y Desarrollo.
Política Macroeconómica y Estabilidad Financiera.
Modelización del Riesgo Financiero y Toma de Decisiones en Política Económica.

Services offered
Results
Available relevant infrastructure

Services offered

This research group aims to study how economic policies and factors affecting the productive structure—such as inefficient regulations, the informal economy, or lack of access to credit—influence productivity, growth, and financial stability. It also analyzes the role of public investment, technology, and the communication of macroeconomic policies in shaping the decisions of households and firms. In addition, it incorporates financial risk modeling to improve the design and effectiveness of public policies.

Results

The research group's results are reflected in publications in leading international economics journals, the acquisition of competitive research projects, the supervision of doctoral theses, and the placement of PhD graduates in prestigious institutions and universities. In addition, the group actively contributes to the development of the International Housing Observatory, an international initiative for the analysis of housing markets and their macroeconomic impact.

Available relevant infrastructure

No data.

Proyectos See search box

Project type:

Public

Competitive

European

From

RELEVANT CONTRIBUTIONS TO RESEARCH PROJECTS

Project title: LONG-RUN ECONOMIC PERSPECTIVES OF AN AGEING SOCIETYING
Reference: 217275

Competitive: Yes

European: Yes

Public: Yes

Project sponsors: EUROPEAN COMMISSION
Starting date: 01/04/2009
Termination date: 31/03/2012
Project title: PRODUCTIVIDAD, RIESGO Y POLITICAS MACROECONOMICASING
Reference: CIPROM/2021/060

Competitive: Yes

European: No

Public: Yes

Project sponsors: GENERALITAT VALENCIANA
Starting date: 01/01/2022
Termination date: 31/12/2025
Project title: Riesgos Macroeconómicos y Estabilidad FinancieraING
Reference: CNS2023-145404

Competitive: Yes

European: No

Public: Yes

Project sponsors: MINISTERIO DE CIENCIA, INNOVACION Y UNIVERSIDADES
Starting date: 01/04/2024
Termination date: 30/06/2026
Project title: Ciencia de datos aplicada al análisis de políticas económicasING
Reference: INVEST/2023/448

Competitive: Yes

European: No

Public: Yes

Project sponsors: GENERALITAT VALENCIANA
Starting date: 01/12/2023
Termination date: 30/11/2025
Project title: La actividad macroeconómica a través de la interacción de mercados y políticasING
Reference: PID2023-153032NB-I00

Competitive: Yes

European: No

Public: Yes

Project sponsors: MINISTERIO DE CIENCIA, INNOVACION Y UNIVERSIDADES
Starting date: 01/09/2024
Termination date: 31/12/2028
Project title: (CONGRESO VIVIENDA Y MACROECONOMIA) WORKSHOP ON GLOBAL HOUSING MARKETS AND THE MACROECONOMYING
Reference: CONGRESO VIVIENDA Y MACROECONOMIA

Competitive: Yes

European: No

Public: Yes

Project sponsors: UNIVERSIDAD DE ALICANTE
Starting date: 27/03/2026
Termination date: 27/03/2026
Project title: Essays on EconomicsING
Reference: FPU24/03046

Competitive: Yes

European: No

Public: Yes

Project sponsors: MINISTERIO DE CIENCIA, INNOVACION Y UNIVERSIDADES
Starting date: 01/12/2025
Termination date: 10/03/2029
Project title: Línea de investigación/ Proyecto: PID2021-124860NB-I00ING
Reference: CIGRIS/2024/191

Competitive: Yes

European: No

Public: Yes

Project sponsors: Conselleria de Educación, Cultura, Universidades y Empleo
Starting date: 16/10/2025
Termination date: 15/10/2029
Project title: (CONGRESO MACROECONOMIA) Workshop Macroeconomics and Productivity ING
Reference: CONGRESO MACROECONOMIA

Competitive: Yes

European: No

Public: Yes

Project sponsors: UNIVERSIDAD DE ALICANTE
Starting date: 12/06/2025
Termination date: 13/06/2025
Project title: (CONGRESO PROSPECT THEORY) WORKSHOP PROSPECT THEORY: STATE OF THE ART. ING
Reference: CONGRESO PROSPECT THEORY

Competitive: Yes

European: No

Public: Yes

Project sponsors: UNIVERSIDAD DE ALICANTE
Starting date: 29/05/2025
Termination date: 30/05/2025

Publications See search box

Books

Book chapters

Articles

Conferences

From year

To year

RELEVANT CONTRIBUTIONS IN JOURNALS

Title: Public Debt Burden and Crisis Severity
Authors: Fernández Gallardo, Álvaro; Paya, I.
Journals European Economic Review
Volume: 176
Pages: -
Date: 2025
ISSN: 0014-2921
DOI: https://doi.org/10.1016/j.euroecorev.2025.105028
Title: Growth, Housing, and Global Imbalances
Authors: Franjo, Luis; Stepanchuk, Serhiy; Lambertini, Luisa
Journals International Economic Review
Volume: 65 (2)
Pages: 623 - 654
Date: 2024
ISSN: 0020-6598
DOI: https://doi.org/10.1111/iere.12674
Title: Higher order risk attitudes: New model insights and heterogeneity of preferences
Authors: Georgalos, Konstantinos; Paya, I.; Peel, David A.
Journals Experimental Economics
Volume: 26
Pages: 145 - 192
Date: 2023
ISSN: 1386-4157
DOI: https://doi.org/10.1007/s10683-022-09784-5
Title: Identifying the economic determinants of individual voting behaviour in UK general elections
Authors: Chrysanthou, G.M.; Guilló, M.D.
Journals Oxford Economic Papers
Volume: 00
Pages: 1 - 23
Date: 2023
ISSN: 0030-7653
DOI: https://doi.org/10.1093/oep/gpad003
Title: Media treatment of monetary policy surprises, and their impact on firms and households' expectations
Authors: Pinter, J. M. A. ; Evzen, Kocenda
Journals Journal of Money, Credit and Banking
Volume:
Pages: -
Date: 2023
ISSN: 0022-2879
DOI: http://dx.doi.org/10.1111/jmcb.13096
Title: Analytic moments of TGARCH(1,1) models with polynomially adjusted densities
Authors: Carnero, M.A.; León Valle, Ángel; Ñiguez, Trino Manuel
Journals Journal of Financial Econometrics
Volume: 23
Pages: 1 - 51
Date: 2025
ISSN: 1479-8417
DOI: https://doi.org/10.1093/jjfinec/nbae019
Title: Efficiency gains in value-at-risk and expected shortfall estimation by using copulas and full maximum likelihood
Authors: Castillo-Brais, Brenda; León Valle, Ángel; Mora, J.
Journals Communications in Statistics Part B: Simulation and Computation
Volume: 54
Pages: 1949 - 1965
Date: 2025
ISSN: 0361-0918
DOI: http://dx.doi.org/10.1080/03610918.2023.2300372
Title: Macroprudential Policy in the Euro Area
Authors: Fernandez Gallardo, Alvaro; Paya, I.
Journals Journal of Money, Credit and Banking
Volume:
Pages: -
Date: 2025
ISSN: 0022-2879
DOI: https://doi.org/10.1111/jmcb.70014
Title: Natural Resources, Technology Improvements, and Growth
Authors: Perez-Sebastian, F.
Journals Environmental and Resource Economics
Volume: 88
Pages: 2157 - 2199
Date: 2025
ISSN: 0924-6460
DOI: https://doi.org/10.1007/s10640-025-01004-x
Title: New bounds for tail risk measures
Authors: Carnero, M.A.; León Valle, Ángel; Ñiguez, Trino Manuel
Journals Finance Research Letters
Volume:
Pages: 1 - 8
Date: 2025
ISSN: 1544-6123
DOI: https://doi.org/10.1016/j.frl.2025.106888

RELEVANT PUBLISHED BOOKS

Title: Ampliación de Macroeconomía
Authors: Guilló, M.D.
Editorial:
Date:
ISBN:
RUA: http://hdl.handle.net/10045/146099

RELEVANT PUBLISHED BOOK CHAPTERS

Book chapter title: The Anchoring of Money Market Expectations in a Corridor System Implementation Framework
Authors: León Valle, Ángel; , Benito, F; , Rodríguez, D.
Editorial: The McGraw-Hill Companies
Pages: 193 - 206
Date: 2009
ISBN:
Book title: New Frontiers in Insurance and Bank Risk Management
Book chapter title: The Econometrics of Exchange Rates
Authors: , Pavlidis, E.; Paya, I.; , Peel, D.A.
Editorial: Palgrave Macmillan
Pages: 1025 - 1083
Date: 2009
ISBN:
Book title: Palgrave Handbook of Econometrics Vol.2 Applied Econometrics

DOI: 10.1057/9780230244405
Book chapter title: Natural Resources, Intangible Capital and Barriers to Economic Development
Authors: Guilló, M.D.
Editorial: NOVA Science Publishers, Inc
Pages: 117 - 140
Date: 2006
ISBN:
Book title: Perspectives on Economic Growth
Book chapter title: Testing for Weekly Seasonal Unit Roots in the Spanish Power Pool.
Authors: León Valle, Ángel; RUBIA, A.
Editorial: John Wiley & Sons (UK)
Pages: 131 - 159
Date: 2003
ISBN:
Book title: Modelling Prices in Competitive Electricity Markets
Book chapter title: Immigration, the evolution of skills, and social security
Authors: Guilló, M.D.; , Perez-Laborda, A.; Perez-Sebastian, F.
Editorial: Austrian Science Foundation
Pages: -
Date: 2012
ISBN:
Book title: Long-run economic perspectives of an aging society
Book chapter title: Selección de activos para construir carteras de inversión en base a su asimetría y curtosis
Authors: Carnero, M.A.; León Valle, Ángel; Ñiguez, Trino Manuel
Editorial: FUNCAS (Fundación de las Cajas de Ahorros)
Pages: 123 - 144
Date: 2024
ISBN:
Book title: Predicción y Decisiones Económicas con Big Data
Book chapter title: Diseño curricular de la asignatura "Economía del Desarrollo", con integración de los Objetivos de Desarrollo Sostenible
Authors: Guilló, M.D.; , Mieres, M.
Editorial: Graó
Pages: 205 - 226
Date: 2020
ISBN:
Book title: Experiencias de integración de los Objetivos de Desarrollo sostenible (ODS) en el diseño curricular universitario
Book chapter title: El inglés como medio de instrucción en estudios de Economía y Empresa. Aplicación EMI en la Universidad de Alicante
Authors: Sancho-Esper, F.; , Sancho-Esper, F.M.; RODRÍGUEZ-SÁNCHEZ, C.; Ruiz-Moreno, F.; Turino, F.
Editorial: Mimesis Edizioni
Pages: 239 - 252
Date: 2018
ISBN:
Book title: ERMENEUTICA DEL 'PONTE¿ Materiali per una ricerca
Book chapter title: Docencia de grado en inglés en la Facultad de Económicas y Empresariales de la UA: importancia de los factores motivadores e inhibidores
Authors: RODRÍGUEZ-SÁNCHEZ, C.; Sancho-Esper, F.; Ruiz-Moreno, F.; Turino, F.; , Ruiz, D.
Editorial: Instituto de Ciencias de la Educación
Pages: 93 - 93
Date: 2017
ISBN:
Book title: XARXES-INNOVAESTIC 2017. Llibre d"actes REDES-INNOVAESTIC 2017. Libro de actas
Book chapter title: "Impulsividad motora como predictor de las actitudes hacia la violencia en adolescentes"
Authors: , Calero-Mora, C.; Mora, J.; , Toledo-Romero, F.; , Llor-Zaragoza, L.; , Jiménez-Barbero, J.A.
Editorial: Servicio de Publicaciones de la Universidad de Sevilla
Pages: 305 - 314
Date: 2017
ISBN:
Book title: Psicología jurídica. Conocimiento y práctica

RELEVANT CONFERENCE PAPERS

Title: Housing market connectivity and the transmission of monetary policy
Authors: Paya, I.
Type of participation: Ponencia
Conference name:
Event type: Internacional
City of performance: (ESPAÑA)
Date of performance: 24/11/2025
Title: Entreprenurial Human Capital and Firm Informality
Authors: Turino, F.
Type of participation: Ponencia
Conference name: Shadow 2025
Event type: Internacional
City of performance: Varsovia (POLONIA)
Date of performance: 25/09/2025
Title: Entreprenurial Human Capital and Firm Informality
Authors: Turino, F.
Type of participation: Ponencia invitada
Conference name: Lucca Macro Workshop
Event type: Internacional
City of performance: Lucca
Date of performance: 01/07/2025
Title: Entrepreneurial Human Capital and Firm Informality
Authors: Franjo, Luis
Type of participation: Ponencia
Conference name: Workshop on Macroeconomics and Productivity
Event type: Internacional
City of performance: Alicante/ Alacant (ALICANTE/ALACANT) (ESPAÑA)
Date of performance: 12/06/2025
Title: Workshop on Macroeconomics and Productivity
Authors: Franjo, Luis
Type of participation: Comité científico
Conference name: Workshop on Macroeconomics and Productivity
Event type: Internacional
City of performance: Alicante/ Alacant (ALICANTE/ALACANT) (ESPAÑA)
Date of performance: 12/06/2025
Title: Entrepreneurial Human Capital and Firm Informality
Authors: Franjo, Luis
Type of participation: Ponencia invitada
Conference name: UC3M Economics PhD 35th. Anniversary Alumni Conference
Event type: Internacional
City of performance: Getafe (MADRID) (ESPAÑA)
Date of performance: 05/06/2025
Title: Prospect Theory and Higher Order Risk Preferences
Authors: Paya, I.
Type of participation: Ponencia invitada
Conference name: Prospect Theory: State of the Art
Event type: Internacional
City of performance: (ESPAÑA)
Date of performance: 29/05/2025
Title: Electricity Access and Structural Transformation: Evidence from Brazil Electrification
Authors: Perez-Sebastian, F.
Type of participation: Ponencia
Conference name: STEG Annual Conference and Theme Workshops 2025
Event type: Internacional
City of performance: Oxford (REINO UNIDO (Gran Bretaña e Irlanda del Norte))
Date of performance: 08/01/2025
Title: Skewness and Kurtosis of Aggregated Financial Returns
Authors: Carnero, M.A.; León Valle, Ángel; Ñiguez, Trino Manuel
Type of participation: Ponencia
Conference name: 18th International Joint Conference on Computational and Financial Econometrics (CFE) and Computational and Methodological Statistics (CMStatistics)
Event type: Internacional
City of performance: Londres (REINO UNIDO (Gran Bretaña e Irlanda del Norte))
Date of performance: 14/12/2024
Title: Entreprenurial Human Capital and Firm Informality
Authors: Turino, F.
Type of participation: Ponencia invitada
Conference name: Crei 30
Event type: Internacional
City of performance: Barcelona (BARCELONA) (ESPAÑA)
Date of performance: 25/11/2024