In this paper we present new insights in the literature on the credibility of the Irish pound in the European Monetary System (EMS), adding value to the previous research, which has focused either on the correlation between Irish interest rates and Irish pound/Pound sterling exchange rate...

In this paper we apply three different statistical procedures to the peseta/dollar exchange rate with the objective of discovering the true foreign exchange regime followed by the monetary authorities during the 1965-1998 period. The study´s perspective emphasizes the divergence between de jure...

This paper offers a quantitative assessment of the effectiveness of capital controls in Spain during the period 1986-1990. The analysis is based on a portfoliobalance model previously estimated for the Spanish economy, where the complete elimination of capital controls is simulated. Our results...

This paper examines the regime changes in the Exchange Rate Mechanism (ERM) of the European Monetary System (EMS), applying the duration model approach to weekly data of eight currencies participating in the ERM, covering the complete EMS history. When using the non-parametric (univariate)...

This paper provides empirical evidence on the determinants of exchange rate credibility under the European Monetary System (EMS). To that end, we have considered both economic variables and political factors using data of eight currencies participating in the Exchange Rate Mechanism, covering...

In this paper we assess the economic significance of the nonlinear predictability of EMS exchange rates. To that end, and using daily data for nine EMS currencies covering the 1st January 1978- 31st December 1994 period, we consider nearest-neighbour nonlinear predictors, transforming their...

This paper examines the degree of convergence in social protection registered in the European Union during the 1970-99 period. To that end, we use Eurostat data and study the long-run properties of the data set using time series analysis. Our results indicate that there is no evidence of...

Este trabajo presenta los resultados de una evaluación preliminar de las ayudas estructurales europeas que la Comunidad de Madrid espera recibir durante el período 2007-2013. Dichas ayudas ascienden a 1.185 millones de euros a precios corrientes, equivalentes a 754 millones de euros de 1995....

In this paper, we propose a new methodology for the assessment of EU’s regional policies, making use of the HERMIN macroeconometric model. A major feature of our approach is that allows us to compare the actual evolution of the economy under analysis, with and without European funds, so that...