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 endows 10 scholarships for its II School of Economics on “Social Challenges: Aging, Gender, and Immigration” at UIMP in Santander

CEMFI endows 10 scholarships for its II School of Economics on “Social Challenges: Aging, Gender, and Immigration” at ...

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Banco de España and CEMFI have organized the 16th joint Research Workshop

Banco de España and CEMFI have organized the 16th joint Research Workshop

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CEMFI organizes a summer course on “Social Challenges: Aging, Gender, and Immigration” at UIMP in Santander

CEMFI organizes a summer course on “Social Challenges: Aging, Gender, and Immigration” at UIMP in Santander

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A research team led by CEMFI participates in the evaluation of 23 social inclusion policies in Spain

A research team led by CEMFI participates in the evaluation of 23 social inclusion policies in Spain

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Recent publications

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Urban growth and its aggregate implications
Urban growth and its aggregate implications

Gilles Duranton and Diego Puga

Econometrica, 2023.

Targeted Product Design
Targeted Product Design

Heski Bar-Isaac, Guillermo Caruana and Vicente Cuñat

American Economic Journal: Microeconomics, 2023.

Double Robustness for Complier Parameters and a Semiparametric Test for Complier Characteristics
Double Robustness for Complier Parameters and a Semiparametric Test for Complier Characteristics

Rahul Singh and Liyang Sun

The Econometrics Journal, 2024.

Labor market power and development
Labor market power and development

Tristany Armangué-Jubert, Nezih Guner and Alessandro Ruggieri

American Economic Review-Insights, 2025.

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.