Enric Martorell

Senior Research Economist at Banco de España.

PhD in Economics (University of Edinburgh, 2024).

Research Interests: macroeconomics, growth, and finance.

News: I will be visiting Dartmouth College during the academic year 2026-2027.

Contact: [email protected]

Work in Progress

• "The nexus between the deposit and risk-taking channels of monetary policy"
  R&R at Journal of Financial Economics
  (with J. E. Gutiérrez and M. Melnychuk) [Preprint]
• "Monetary policy, bank leverage and systemic risk-taking"
  (with K. Aoki and K. Nikolov) [Preprint]
• "Energy prices, credit risk, and bank lending dynamics"
  (with M. Giometti, J. E. Gutiérrez and A. Sy)
• "The Ironies of Automation: A growth theory perspective" [Preprint]
• "Transfer progressivity and aggregate development"
  (with L. de Magalhaes and R. Santaeulalia-Llopis) [Slides]

Publications

• Garcia-Villegas, S., & Martorell, E. (2024). "Climate transition risk and the role of bank capital requirements". Economic Modelling, 135, 106724. [Journal] [Preprint]

Policy Reports

• "A literature review on ex-ante and ex-post analysis of the implications of borrower-based measures". [BdE OP 2524]
• "Analysis of cyclical systemic risks and their mitigation through countercyclical bank capital requirements". [BdE OP 2414]
• "Towards macroprudential frameworks for managing climate risk". [ESRB Report]

Teaching

• International Finance - Dartmouth College (Fall 2026)
• Economic Growth - CUNEF (Spring 2025, 2026)