This paper aims to analyse the factors affecting exchange ratedetermination for the Spanish peseta. Nevertheless, this is not its onlyobjective. Two different models have been estimated using the cointegrationmethodology. One of them includes Spanish variables and aggregate...

The aim of this paper is to investigate whether there exists a long run relationship between the real exchange rate and the commodity terms of trade in the so-called ¿Mediterranean¿ or MENA countries. These economies are good candidates for this type of formulation, as they can be considered...

In this paper, the Spanish fiscal policy sustainability is tested for the period 1964-1996. The theoretical framework used in this paper draws from Quintos (1995) where a distinction between weak and strong conditions for deficit sustainability is pointed out. From an empirical point of view,...