segmented goods and labor markets makes the analysis best suited for a monetary union such as the present European EMU. We find …

This paper examines regional inflation divergence within the European EMU aiming at characterizing the properties of … inflation differentials. The empirical evidence suggests that a process of price level convergence in the EMU is well on its way. …

predictors of interest), selective search within the range of possible models, control of collinearity, out-of-sample forecasting …

suboptimal for forecasting purposes. The paper proposes the use of a class of shrinkage estimators that includes the Ridge … estimator for forecasting time series, with a special attention to GARCH and ACD models. The local large sample properties of …-daily financial durations forecasting application. The empirical application shows that an appropriate shrinkage forecasting …

ETFs shows that the proposed methodology is able to significantly outperform common forecasting methods and delivers …