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 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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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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Recent publications

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Trust and accountability in times of crisis
Trust and accountability in times of crisis

Monica Martinez-Bravo and Carlos Sanz

Economica, 2025.

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.

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.

Investment and patent licensing in the value chain
Investment and patent licensing in the value chain

Gerard Llobet and Damien Neven

Journal of Competition Law and Economics, 2023.

Royalty Stacking and Validity Challenges: The Inverse Cournot Effect
Royalty Stacking and Validity Challenges: The Inverse Cournot Effect

Gerard Llobet and Jorge Padilla

Journal of Industrial Economics, 2023.

Rethinking the welfare state
Rethinking the welfare state

Nezih Guner, Remzi Kaygusuz and Gustavo Ventura

Econometrica, 2023.