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Evolución de los productos derivados sobre tipos de interés en España: análisis de sus riestos y ventajas

Author

Listed:
  • Lorenzo de Cristobal y de Nicolás

    (Departamento de Tesorería del Bank of America)

Abstract

Over the last few years, monetary and public debt markets have increased their efficiency while very swiftly developing their relates derivative markets. The purpose of the present study is to present the characteristics of the various derivative instruments available and to analyze their risks and advantages. Firstly, derivative products on the interest rate of the peseta are examines, analysing their evolution, importance and habitual use. The risk factor inolved is then studi''''''''ed, trying to clarify the high risk connotation they have been attributed. The various advantages of derivative assets in interest rate risk management are also surveyed, both in hedging operations and in synthetic asset generation. Lastly, the pending matters and future evolution of the derivative market are asessed.

Suggested Citation

  • Lorenzo de Cristobal y de Nicolás, 1994. "Evolución de los productos derivados sobre tipos de interés en España: análisis de sus riestos y ventajas," EKONOMIAZ. Revista vasca de Economía, Gobierno Vasco / Eusko Jaurlaritza / Basque Government, vol. 29(02), pages 52-69.
    • Handle: RePEc:ekz:ekonoz:1994203
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    More about this item

    Keywords

    Productos financieros; tipos de interés;

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G13 - Financial Economics - - General Financial Markets - - - Contingent Pricing; Futures Pricing
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading

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