Tourism is one of the factors that foster the interconnection and development of societies and the formation of interdependent economic, social and cultural relationships. Tourism may generate competitive advantage for a country, thereby contributing to its economic progress and to a proper...

Tourism is one of the factors that foster the interconnection and development of societies and the formation of interdependent economic, social and cultural relationships. Tourism may generate competitive advantage for a country, thereby contributing to its economic progress and to a proper...

This thesis explores the important link between macroeconomic dynamics and the financial sector. The first essay studies Epstein-Zin preferences, which are found to be able to account for both aggregate macroeconomic dynamics and asset prices. In the first essay, I compare different solution...

After conceptual clarification of "international business cycle" and a review of the literature, a new indicator is proposed. This indicator refers to two time series only and allows for an interna-tionally comparable quantification of a country's position in the business cycle. We then...

Con el objetivo de analizar la transmisión de las fluctuaciones internacionales de los ciclos económicos, se propone un modelo de factores dinámicos multinivel con estructura de bloques en el que: i) no se restringe a los factores a ser ortogonales, y ii) se permite mezclar series de...

Versión actualizada (mayo 2019) ; Las grandes empresas de Estados Unidos, al difundir tecnología a través del comercio de intermedios, parecen ser clave para la producción de Europa en el medio plazo. De cara a explicar esta evidencia, el presente trabajo desarrolla un modelo de dos países...

La correlación entre los ciclos económicos depende del estado de la economía y es más alta en recesiones que en expansiones. En este documento sugiero un mecanismo para explicar la causa. Para este propósito, construyo un modelo de ciclo económico real internacional con restricciones de...