Since Meese and Rogoff (1983) results showed that no model could outperform a random walk in predicting exchange rates. Many papers have tried to find a forecasting methodology that could beat the random walk, at least for certain forecasting periods. This Element compares the Purchasing Power...

In this paper, we build efficient portfolios using different frameworks proposed in the literature with several datasets containing an increasing number of predictors as conditioning information. We carry an extensive empirical study to investigate several approaches to impose sparsity and...

We evaluate the use of Generalized Empirical Likelihood (GEL) estimators in portfolio efficiency tests for asset pricing models in the presence of conditional information. Estimators from GEL family present some optimal statistical properties, such as robustness to misspecification and better...

Combustion tests in a large-scale laboratory furnace were carried out to assess the feasibility of using biodiesel as a fuel in industrial furnaces. For comparison purposes, petroleum-based diesel was also used as a fuel. Initially, the performance of the commercial air-assisted atomizer used in...