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dc.creatorBajo Rubio, Óscares_ES
dc.creatorSosvilla Rivero, Simónes_ES
dc.creatorFernández Rodríguez, Fernandoes_ES
dc.date.accessioned2016-05-10T07:40:00Z
dc.date.available2016-05-10T07:40:00Z
dc.date.issued2000
dc.identifier.urihttps://hdl.handle.net/2454/20553
dc.description.abstractIn this paper we provide new evidence on the hypothesis of German leadership and asymmetric performance in the EMS, in the framework of causality tests, using daily data. Given the evidence about non-linearity in financial series, we propose applying non-linear forecasting methods based on the literature on complex dynamic systems. Our analysis covers nine countries, and the sample period runs until 30 April 1998, so including the more recent events in the EMS history. A comparison of our results with those obtained from standard linear econometric techniques leads us to conclude that inference on causality based on our non-linear predictors would be preferable to that based on the standard linear approach.en
dc.description.sponsorshipFinancial support from the Spanish Ministry of Education through the Project PB98-0546-C02-01 is gratefully acknowledged.en
dc.format.extent51 p.
dc.format.mimetypeapplication/pdfen
dc.language.isoengen
dc.relation.ispartofseriesDocumentos de Trabajo DE - ES Lan Gaiakes
dc.relation.ispartofseries0001en
dc.rightsCC Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)en
dc.rights.urihttps://creativecommons.org/licenses/by-nc-nd/4.0/
dc.subjectInterest ratesen
dc.subjectEuropean monetary systemen
dc.subjectNon linear forecastingen
dc.titleAsymmetry in the EMS: new evidence based on non-linear forecastsen
dc.typeDocumento de trabajo / Lan gaiakes
dc.typeinfo:eu-repo/semantics/workingPaperen
dc.contributor.departmentUniversidad Pública de Navarra. Departamento de Economíaes_ES
dc.contributor.departmentNafarroako Unibertsitate Publikoa. Ekonomia Sailaeu
dc.rights.accessRightsAcceso abierto / Sarbide irekiaes
dc.rights.accessRightsinfo:eu-repo/semantics/openAccessen


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CC Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)
Except where otherwise noted, this item's license is described as CC Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)