The potential negative consequences of high financial volatility have been an important concern recently. Although its empirical relevance has not been proved conclusively, clear theoretic and intuitive arguments justify this concern. Many efforts have been conducted, therefore, to determine...

Este trabajo analiza la evolución de las ramas productoras de bienes y servicios relacionados con las tecnologías de la información y comunicaciones (ramas TIC) en la economía española durante 1995-1999. Esta evolución se compara con la del conjunto de la economía, así como con la de...

Este trabajo pretende señalar los principales rasgos que la rama de servicios presenta en la economía española. Para ello, se compara el comportamiento de una serie de variables económicas -valor añadido, empleo, productividad, deflactores y costes laborales unitarios-, desde tres...

Este trabajo pretende caracterizar el grado de concentración de las ramas productivas de la economía española en el período 1996-1999, tanto de la industria como de los servicios. Para ello, se presentan una batería de índices de concentración calculados con relación al empleo...

This paper uses a well-established growth accounting framework to measure the contribution of ICT goods (considered as capital inputs) to output and labour productivity growth in the Spanish economy. We apply this framework to a sample of around 1300 Spanish firms per year over the period...

This paper explores Spanish Treasury bond auctions both from a theoretical and an empirical perspective. In the theoretical analysis we present a model to explore the revenue efficiency of Spanish Treasury bond auctions. Given the complexity of the Spanish auction game, the model abstracts from...

This paper analyses whether there has been an increase in the degree of financial market integration during the nineties. To do this, we focus on stock markets and compute, first, a number of standard measures of co-movements that sometimes are interpreted as measures of financial integration....

This paper uses a Spanish panel of tax returns and another on household expenditure during the period 1985-1991 to examine the incidence of the introduction in 1988 of tax incentives to retirement savings on contributions to pension funds and on savings. We first identify the population cohorts...

We use an integrated framework based on the CCAPM to jointly estimate ex-ante real interest rates, inflation risk premia and agents' inflation expectation errors in four countries - France, Spain, UK and US - under three different preference specifications.