The purpose of this paper is to test the (rational) expectations hypothesis of the term structure of interest rates using Portuguese data for the interbank money market. The results obtained support only a very weak, long-run or “asymptotic ” version of the hypothesis, and broadly agree with previous evidence for other countries. The empirical evidence supports the cointegration of Portuguese rates and the “puzzle ” well known in the literature: although its forecasts of future short-term rates are in the correct direction, the spread between longer and shorter rates fails to forecast future longer rates. In the single equation framework, the implications of the hypothesis in terms of the predictive ability of the spread are also clearly rejected.

-12 Hz and the lower amplitude faster than 12 Hz patterns, respectively (Niedermeyer and Lopes da Silva, 1993). Perhaps recognizing the different behavioral correlations of different faster rhythms, Jasper and Andrews (1938) used the term “gamma waves ” for frequencies between 35 or 45 Hz. The idea

Preparation and evaluation of lidocaine hydrochloride in cyclodextrin inclusion complexes for development of stable gel in association with chlorhexidine gluconate for urogenital use

In this paper, it is demonstrated by simulation that, contrary to a widely held belief, pure seasonal mean shifts — i.e., seasonal structural breaks which affect only the seasonal cycle — really do matter for Dickey-Fuller long-run unit root tests. Both size and power properties are affected by such breaks but using the t-sig method for lag selection induces a stabilizing effect. Although most results are reassuring when the t-sig method is used, some concern with this type of breaks cannot be disregarded. Further evidence on the poor performance of the t-sig method for quarterly time series in standard (no break) cases is also presented. Keywords: unit roots; seasonality; Dickey-Fuller tests; structural breaks.

of whom are great company as well as stimulating thinkers. Amongst many others I also include Fernando Lopes da Silva (a fortunate seat allocation on the way to ISBET99), Paul Nunez, Richard Silberstein, Richard Clark, and James Theiler, who probably don't remember me but whose polite and good

of any future work of mine in this field will be due to this experience. I would also like to thank prof. Lopes da Silva for being available with such short notice to be my FML supervisor. To all my classmates, for all the mutual support, companionship, daily lunches and pleasant times in and out

Efeito da ovariectomia e da reposição hormonal no reimplante dentário imediato: análise histomorfométrica e imunoistoquímica em ratas

Nowadays it is needed an optimal performance in structural systems in order to obtain lighter and stronger structures, static and dynamic stability and reduction of vibrations caused by external sources (Anthony, 2000). It is possible to use modern techniques of

Technical analysis of softwares used for dental practice management

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