This study attempts to assess the forecasting accuracy of Support Vector Regression (SVR) with regard to other Artificial Intelligence techniques based on statistical learning. We use two different neural networks and three SVR models that differ by the type of kernel used. We focus on...

Here is an example on how to calculate the risk of a portfolio using bivariate parametric copulas and Monte Carlo simulation. First, the parameter of the copula are estimated, then marginal distributions are fitted and value at risk (VaR) and tail value at risk (TVaR) are calculated.

The inverse relationship between unemployment and Gross Domestic Product (GDP) growth, commonly known as Okun’s law, has been traditionally analysed in the economic literature. Its application for Spain has been carried out at the national level or for the autonomous communities but it has not...

The analysis of the relationship between tourism and human development points to a positive link between these activities, basically by means of the improvement of economic conditions. In the present study we analyze whether and to what extent this relationship remains positive under different...

This study attempts to improve the forecasting accuracy of tourism demand by using the existing common trends in tourist arrivals form all visitor markets to a specific destination in a multiple-input multiple-output (MIMO) structure. While most tourism forecasting research focuses on univariate...

The link between urban concentration and economic growth at country level is not straightforward, as there are benefits as well as costs associated with urban concentration. Indeed, recent empirical evidence suggests different effects of urban concentration on growth depending on the level of...

This study aims to analyze the effects of data pre-processing on the performance of forecasting based on neural network models. We use three different Artificial Neural Networks techniques to forecast tourist demand: a multi-layer perceptron, a radial basis function and an Elman neural network....

We solve a portfolio selection problem of an investor with a deterministic savings plan who aims to have a target wealth value at retirement. The investor is an expected power utility-maximizer. The target wealth value is the maximum wealth that the investor can have at retirement. By...

A new family of distortion risk measures -GlueVaR- is proposed in Belles- Sampera et al. (2014) to procure a risk assessment lying between those provided by common quantile-based risk measures. GlueVaR risk measures may be expressed as a combination of these standard risk measures. We show here...

In a big amount of economies (NUTS-I) the evolution of manufacturing production is analysed using Gross Domestic Product (GDP) and Gross Added Value (GAV) data from National Accounts. In Spain, the problem of using these data is that they are not available as soon as it would be desirable. In...