Nueva Evidencia Empírica sobre las Turbulencias Cambiarias de la Peseta Española. 1989-1998/New Evidence about Turbulences on the Spanish Peseta. 1989-1998s
RODRÍGUEZ, Mª ARACELI () (Departamento de Análisis Económico e Historia e Instituciones Económicas. Universidad de Valladolid.Avda. Esgueva 6. 47011 Valladolid.Teléfono: 983 184428. Fax 983 423 299.)
Additional information is available for the following
registered author(s):
El estudio de las razones que conducen a una crisis monetaria o financiera continúa siendo una cuestión abierta. El objetivo de este trabajo es la búsqueda de nueva evidencia y ratificación de las razones que explican la génesis de las turbulencias sobre la peseta española. Basándonos en los resultados de algunos trabajos previos sobre el tema, se construye un índice de presión especulativa que se muestra útil en la identificación de las turbulencias monetarias de la moneda española mediante la aplicación del modelo econométrico de Markov con saltos de régimen. A través del procedimiento ampliado para permitir probabilidades de transición variables intentamos no sólo responder a la cuestión de qué tipo de variables pueden ser responsables de la génesis de estas crisis, sino también comprobar la robustez de la evidencia empírica ya mostrada por estudios similares. The framework of this work is the European Monetary System and the currency crises that the Spanish Peseta suffered during the time it belonged to the ERM. Not only, we try to identify the turbulence periods but also we provide some explanation to those moments. We build an Index of Speculative Pressures for the Spanish Peseta and using the Markov-Switching Regime Model with time varying transition probabilities we study the contrivance of different macroeconomic variables. We have been able to ratify the results which have been obtained by other similar previous studies.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Contact details of provider: Postal: Beatriz Rodríguez Prado. Facultad de CC.EE. y EE. Avda. Valle del Esgueva. Valladolid 47011 SPAIN Phone: (34) 983 423320 Fax: (34) 983 184568 Web page: http://www.revista-eea.net More information through EDIRC
Find related papers by JEL classification: F31 - International Economics - - International Finance - - - Foreign Exchange F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
Did you know? You can import bibliographic info in various formats into you bibliographic tool, or just into your word processor. See under "publisher info" on each abstract page.