Este trabajo trata de evaluar las consecuencias de la inmigración sobre el sistema educativo español. Para ello, se examina la tasa bruta de escolaridad como indicador sintético del sistema educativo estatal, realizándose proyecciones hasta el año 2050 de matriculación y de gastos del...

Este trabajo propone una metodología para obtener series suficientemente largas de un indicador adecuado de capital humano. En contraste con los trabajos previos, se utilizan los datos de la Encuesta de Población Activa relativos al nivel de estudios efectivamente terminados para construir...

This paper examines the linkages between US and Latin American the stock markets during the 1995-2002 period using recently-developed cointegration techniques that allow for structural shifts in the long-run relationship. Our results suggest that, if we apply conventional cointegration tests, we...

This paper examines the regime changes in the European Exchange Rate Mechanism (ERM), making use of the duration model approach covering the complete European Monetary System (EMS) history. From the nonparametric (univariate) analysis, we find that the probability of maintaining the current...

The evolution of the exchange rate of the euro vis-à-vis the currencies of the trade partners have an effect on the Euro Area's industrial price indices and, therefore, in the economy as a whole. In general, when referring to the exchange rate as a variable that affects such indices and the...

The evolution of financial data shows a high degree of volatility of the series, coupled with increasing difficulties of forecasting the shorter is the time horizon, when using standard (i.e., based on linear models) forecasting methods. Some alternative forecasting methods for non-linear time...

In this paper we investigate the profitability of non-linear trading rules based on nearest neighbour predictors. Our results, based on applying this investment strategy to the New York Stock Exchange, suggest that, taking into account trading costs, the non-linear trading rule is superior to a...