We measure the evolution of galaxy clustering out to a redshift of z~1.5
using data from two MUSYC fields, the Extended Hubble Deep Field South (EHDF-S)
and the Extended Chandra Deep Field South (ECDF-S). We use photometric redshift
information to calculate the projected-angular correlation function,
omega(sigma), from which we infer the projected correlation function Xi(sigma).
We demonstrate that this technique delivers accurate measurements of clustering
even when large redshift measurement errors affect the data. To this aim we use
two mock MUSYC fields extracted from a LambdaCDM simulation populated with
GALFORM semi-analytic galaxies which allow us to assess the degree of accuracy
of our estimates of Xi(sigma) and to identify and correct for systematic
effects in our measurements. We study the evolution of clustering for volume
limited subsamples of galaxies selected using their photometric redshifts and
rest-frame r-band absolute magnitudes. We find that the real-space correlation
length r_0 of bright galaxies, M_r<-21 (rest-frame) can be accurately recovered
out to z~1.5, particularly for ECDF-S given its near-infrared photometric
coverage. There is mild evidence for a luminosity dependent clustering in both
fields at the low redshift samples (up to =0.57), where the correlation
length is higher for brighter galaxies by up to 1Mpc/h between median
rest-frame r-band absolute magnitudes of -18 to -21.5. As a result of the
photometric redshift measurement, each galaxy is assigned a best-fit template;
we restrict to E and E+20%Sbc types to construct subsamples of early type
galaxies (ETGs). Our ETG samples show a strong increase in r_0 as the redshift
increases, making it unlikely (95% level) that ETGs at median redshift
z_med=1.15 are the direct progenitors of ETGs at z_med=0.37 with equivalent
passively evolved luminosities. (ABRIDGED)Comment: 16 pages, 12 figures, 2 tables, accepted for publication in MNRA