Enric Martorell


Research Economist
Financial Stability and Macroprudential Policy Department
Banco de España


Welcome to my website!

I’m a Research Economist at the Financial Stability and Macroprudential Policy Department of Banco de España.
I hold a PhD in Economics from the University of Edinburgh.

My research interests are in the broad fields of macroeconomics, growth, banking and finance.

Contact: enricmarto@gmail.com


Selected Work in Progress


  • Monetary Policy, Bank Leverage and Systemic Risk-Taking | 2024
    with K. Aoki and K. Nikolov | [SSRN]
    Presented at: EEA-ESEM Congress (Barcelona, 2023), 31st Finance Forum (Tenerife, 2024), 55th MMF Annual Conference (Manchester, 2024)

  • Deposit Channel and Bank Risk-Taking | 2024
    with M. Melnychuk

  • Transfer Progressivity and Development | 2022
    with L. de Magalhaes and R. Santaeulàlia-Llopis
    Presented at: SITE (Stanford, 2022), SED Meeting (Cartagena, 2023)

Academic Publications


  • Climate Transition Risk and the Role of Bank Capital Requirements | Economic Modelling, 135, 106724 | 2024
    with S. Garcia-Villegas | [BdE WP 2410] [SUERF Policy Brief No. 931] [Published version]
    Presented at: ICBFA (Montpellier, 2023), 17th Dynare Conference (Malta, 2023), 8th Green Finance Research Advances (Banque de France, 2023), SED Meeting (Barcelona, 2024), NFGS-ENR Seminar (Online, 2024)

Policy Reports


  • Analysis of cyclical systemic risks and their mitigation through countercylcical bank capital
    requirements | 2024
    with A. Estrada et al. | [BdE OP 2414]

  • Towards macroprudential frameworks for managing climate risk | 2023
    ECB/ESRB Project team on climate risk | [ESRB Report]

Disclaimer: The views expressed in this website do not reflect those of Banco de España or the Eurosystem.