In this paper we investigate the profitability of non-linear trading rules based on nearest neighbour predictors. Our results, based on applying this investment strategy to the New York Stock Exchange, suggest that, taking into account trading costs, the non-linear trading rule is superior to a...

En este trabajo se presentan los resultados de la evaluación de las ayudas que, procedentes de la Unión Europea, habrá recibido Canarias durante el período 1989-2006 a través de distintos programas de inversiones contenidos los Fondos Estructurales. Los resultados obtenidos sugieren que,...

En este trabajo se analiza el concepto de interdependencia económica y sus consecuencias en la ejecución y efectividad de las políticas macroeconómicas nacionales. Para ello, se considera un modelo de dos países diseñado para realizar un estudio a corto plazo de la efectividad de las...

In this paper we investigate the profitability of a simple technical trading rule based on Artificial Neural Networks (ANNs). Our results, based on applying this investment strategy to the General Index of the Madrid Stock Market, suggest that, in absence of trading costs, the technical trading...

In this paper we empirically assess the validity of the PPP hypothesis from a new point of view. Instead of examining international data, we analyse PPP for Spanish provinces, eliminating many factors frequently offered to explain the failure of PPP. To that end, we make use of annual CPI data...