This paper presents a selective survey on some recent empirical attempts to test the validity of Purchasing Power Parity (PPP) to explain exchange-rate movements in the main currencies, as well as the econometric methodology used in such tests. Finally, we offer some encouraging results...

We use a machine learning algorithm called Adaboost to find direction-of-change patterns for the S&P 500 index using daily prices from 1962 to 2004. The patterns are able to identify periods to take long and short positions in the index. This result, however, can largely be explained by...

En este trabajo examinamos la convergencia en tasas de inflación de los países de la Unión Europea con respecto a Alemania. Para ello, aplicamos contrastes de cointegración que determinan endógenamente a ruptura estructural a datos anuales correspondientes al período 1961-1997. Los...

In this paper we assess the credibility of Bank of Spain's monetary and interest rate announcements as perceived by the agents. Firstly, we analyze the convergence between the objectives of monetary policy and the evolution of the monetary aggregate and the market interest rates. Secondly, we...

In this paper we assesss whether some simple forms of technical analysis can predict stock price movements in the Madrid Stock Exchange. To that end, we use daily data for General Index of the Madrid Stock Exchange, covering the thirty-one-year period from January 1966-October 1997. Our results...

The objective of this paper is to identify implicit exchange rate regimes for the Spanish peseta/Deutschmark exchange rate. To this end, several statistical approaches, proposed by previous studies, are applied to the period 1965-1998. The results indicate the existence of implicit regimes other...