In this paper, I first provide a unifying approach to Mean-Variance analysis and Value at Risk, which highlights both their similarities and differences. Then I use it to explain how fund managers can take investment decisions within the well-known Mean-Variance allocation framework that satisfy...

We compare the Sharpe rations of investment funds which combine one riskless and one risky asset following: i) timing strategies which forecast excess returns using simple regressions; ii) a strategy which uses multiple regression instead; and iii) a passive allocation which combines the funds in...

Presenta una serie histórica para la economía española del gasto anual en bienes de consumo duradero ; Índice de hojas - Índice de series - Serie de gasto en bienes de consumo duradero - Gastos en bienes de consumo duradero y otras magnitudes - Gastos en bienes de consumo duradero en otros...

The expansion of Spanish banks in Latin America is one of the most important elements of bank internationalisation in recent years. Spanish banks now head the ranking of foreign banks in the region. At first glance, it is paradoxical that at a time of notable progress in the process of European...