This study applies a group of unit root and stationarity tests to study the hypothesis of Purchasing Power Parity in ten Mediterranean countries. The real effective exchange rate with the European Union turns out to be stationary for five of the countries analysed, once the presence of...

Recently (April 2000), the New Market index began to be computed in the Spanish Stock Exchange as a relevant indicator of the new technological firms' behaviour in the Spanish economy. This paper provides empirical evidence about the relationships between the return and volatility of Spanish...