Artículo de revista

Artículo de revista

This paper analyses the contribution of interest rates to explain recent house price developments in Spain trying to reconcile different pieces of evidence. On the one hand, empirical evidence supports the view that interest rates are a key variable to explain house price developments. As a...

En este trabajo se propone un modelo estocastico de dos sectores, que puede ser utilizado para comparar las propiedades estabilizadoras de los distintos regimenes cambiarios. Del analisis se obtienen las siguientes conclusiones: Si la autoridad monetaria tiene mas informacion que los agentes...

En este trabajo se estudia la relacion entre la prima de riesgo agregada y la volatilidad del mercado español de renta variable. Esta relacion es siempre positiva, pero dista de ser sistematica, mostrando una gran variacion en el periodo comprendido entre 1974 y 1992. La evolucion temporal del...

This paper analyzes the implications of a general representative agent intertemporal asset pricing model on the determination of the short term interest rates. The model includes an extension of the Non-expected Utility Isoelastic Preferences that incorporates non-separability between private...

This paper investigates analytically and numerically intertemporal equilibrium portfolio policies under time dependent returns. The analysis is performed using a new method for obtaining approximate closed form solutions to the optimal portfolio-consumption problem that does not require the...