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Continuous phase modulation (CPM) schemes, using Nyquist 3 pulse shaping and correlative codes, are popular candidates for mobile radio applications. This paper presents a detailed study of the effects of Nyquist 3 pulse shaping on the spectral characteristics of CPM schemes with a modulation index of 1/2. The influence of pulse parameters such as its shape, bandwidth, coding polynomial, and truncation length on spectral characteristics such as main lobe, fractional power bandwidths, and out-of-band power levels is thoroughly investigated; error performance is also briefly analyzed. Among uncoded schemes, a new scheme using a pulse satisfying both Nyquist 3 and Nyquist 2 criteria is pointed out as a promising candidate and as a good compromise between spectral and power efficiencies.