The Black-Litterman (BL) model has been proposed as an alternative to Markowitz's average-variance model for the structuring of financial asset portfolios, allowing the incorporation of perspectives of fundamental analysts and guaranteeing a high degree of diversification. This model is applied...

Spanish Abstract: En este estudio se estima la probabilidad de transacciones informadas comportamiento y sus efectos en los rendimientos diarios e intradiarios en Latinoamérica. Calculando la probabilidad diaria dinámica de transacciones informadas (Easley, Engle, O'Hara y Wu, 2008), como una...

The Black-Litterman (BL) model has been proposed as an alternative to Markowitz's average-variance model for the structuring of financial asset portfolios, allowing the incorporation of perspectives of fundamental analysts and guaranteeing a high degree of diversification. This model is applied...

Spanish abstract: El análisis de los ciclos económicos de las regiones europeas pone de relieve la existencia de importantes asimetrías, que pueden esquematizarse en la configuración de distintos clusters caracterizados por patrones de comportamiento diferentes. La identificación de los...

English Abstract: The analysis of the regional business cycles in Spain highlights a high degree of similarity in the developments of most regions, but also shows idiosyncratic behaviour that mainly affects the duration and intensity of recessions. Such idiosyncratic behaviour would advise...

English Abstract: The main aim of this paper is to provide a set of stylised facts on the regularities of cyclical patterns in Spain compared with those of the major European countries and to analyse the synchronisation of the main real variables of these economies, which have close trading and...