Excellence in Research and Teaching

CEMFI is a leading graduate school in Economics in the heart of Madrid.

Master in Economics and Finance

A rigorous two-year program that successfully places students in the professional job market as well as in top doctoral programs.

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PhD in
Economics

A selective doctoral program that is endorsed by the quality of its placements and the career paths of its graduates.

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Job Market Candidates

2024-2025 Job Market Candidates in the academic market

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Research

Our faculty are leaders in their fields of expertise and regularly publish in the leading journals of Economics.

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Summer
School

Intensive, one-week courses covering the most recent developments in fields within CEMFI's range of expertise.

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News

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CEMFI launches a new edition of its Summer School

CEMFI launches a new edition of its Summer School

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CEMFI launches the tenth edition of its Undergraduate Internship Program

CEMFI launches the tenth edition of its Undergraduate Internship Program

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CEMFI is inviting applications for up to two positions of Research Assistant (Pre-doc)

CEMFI is inviting applications for up to two positions of Research Assistant (Pre-doc)

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CEMFI is inviting applications for one position of Research Assistant (Pre-doc)

CEMFI is inviting applications for one position of Research Assistant (Pre-doc)

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Recent publications

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Fixed effects and the Generalized Mundlak Estimator
Fixed effects and the Generalized Mundlak Estimator

Dmitry Arkhangelsky and Guido W. Imbens

The Review of Economic Studies, 2024.

Empirical evaluation of overspecified asset pricing models
Empirical evaluation of overspecified asset pricing models

Elena Manresa, Francisco Peñaranda and Enrique Sentana

Journal of Financial Economics, 2023.

Discrete mixtures of normals pseudo maximum likelihood estimators of structural vector autoregressions
Discrete mixtures of normals pseudo maximum likelihood estimators of structural vector autoregressions

G. Fiorentini and Enrique Sentana

Journal of Econometrics, 2023.

Micro and macro effects of UI policies: Evidence from Missouri
Micro and macro effects of UI policies: Evidence from Missouri

Fatih Karahan, Kurt Mitman and Brendan Moore

Journal of Political Economy, 2025.

Rethinking the welfare state
Rethinking the welfare state

Nezih Guner, Remzi Kaygusuz and Gustavo Ventura

Econometrica, 2023.

Weak identification with many instruments
Weak identification with many instruments

Anna Mikusheva and Liyang Sun

Econometrics Journal, 2024.