In this paper we quantitatively explore the role of immigration in the evolution of housing prices in Spain and its autonomous regions for the period 1995-2007. We use estimations of an inverted model for housing demand with and without immigrant flows. The results we have obtained suggest that...

Se examina el grado de convergencia en las prestaciones de protección social "per capita" registrado en la Unión Europea durante el período 1966-92, para lo que se emplean datos de Eurostat.

This article 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 article assesses the economic significance of the non-linear predictability of EMS exchange rates. To that end, and using daily data for nine EMS currencies covering the 1 January 1978-31 December 1994 period, it considers nearest- neighbour non-linear predictors, transforming their...

We propose a new test to detect chaotic dynamics, based on the stability of the largest Lyapunov exponent from different sample sizes. This test is applied to the data used in the single-blind controlled competition tests for non-linearity and chaos that were generated by Barnett et al. (1997),...

In this paper we assess the empirical relevance of an expectations version of purchasing power parity in forecasting the dollar|euro exchange rate. This version is based on the differential of inflation expectations derived from inflation-indexed bonds for the euro area and the USA. <P>Using the...</p>

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...