Bolsas en España y USA en 1940-2020. ITBM y S&P (Stock Markets in Spain and USA in 1940-2020. ITBM and S&P)

9 Pages Posted: 6 Apr 2020

See all articles by Pablo Fernandez

Pablo Fernandez

IESE Business School

Eduardo de Apellániz

Instituto de Estudos Sociais e Economicos (IESE)

Date Written: April 4, 2020

Abstract

Spanish Abstract: Se compara la evolución de la Bolsa en España (ITBM) y de la bolsa de USA (S&P composite) desde diciembre de 1940 hasta marzo de 2020. El ITBM fue más rentable que el S&P composite (incluyendo dividendos) sólo en las décadas 1961-1970 y 1991-2000.
También se muestra la evolución de la inflación en España y USA y del tipo de cambio.
Observando la evolución bursátil de los últimos 80 años, se comprueba que las bolsas españolas y americanas han tenido descensos muy superiores al del mes de marzo de 2020.

English Abstract: The evolution of the Spanish Stock Market (ITBM) and the US Stock Market (S&P composite) from December 1940 to March 2020 is compared. The ITBM was more profitable than the S&P composite (including dividends) only in the decades 1961-1970 and 1991-2000.

The evolution of inflation in Spain and the USA and of the exchange rate are also shown.

Observing the stock market evolution of the last 80 years, it is verified that the Spanish and American stock markets have had declines much higher than in March 2020.

Note: Downloadable document is in Spanish.

Keywords: ITBM, S&P Composite, 2020 crisis, coronavirus, inflación

JEL Classification: G12, G31, G32

Suggested Citation

Fernandez, Pablo and de Apellániz, Eduardo, Bolsas en España y USA en 1940-2020. ITBM y S&P (Stock Markets in Spain and USA in 1940-2020. ITBM and S&P) (April 4, 2020). IESE Business School Working Paper No. WP-1242, Available at SSRN: https://ssrn.com/abstract=3568401 or http://dx.doi.org/10.2139/ssrn.3568401

Pablo Fernandez (Contact Author)

IESE Business School ( email )

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HOME PAGE: http://web.iese.edu/PabloFernandez/

Eduardo De Apellániz

Instituto de Estudos Sociais e Economicos (IESE)

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