Advanced Search
MyIDEAS: Login

Cambios de las tasas de política, paridad cubierta de intereses y estructura a plazo

Contents:

Author Info

  • Arango, Luis Eduardo

    (Unidad de Investigaciones Económicas de la Gerencia Técnica del Banco de la República)

  • Velandia, Daniel Eduardo

    (Universidad del Rosario)

Abstract

Data from the USA and the UK markets is used to re-estimate the capability of the Federal Reserve and Bank of England to affect the interest rates. The evidence shows that these reactions are smaller than the originals of Cook and Hahn (1989). When such an equation is modified to allow for covered interest parity the evidence shows that, on the one hand, this hypothesis holds and the monetary authorities are able to influence the market interest rates. Evidence supports the hypothesis of expectations of interest rates.// Se usa información de los mercados de Estados Unidos e Inglaterra para hacer estimaciones de la capacidad que tienen la Reserva Federal y el Banco de Inglaterra de afectar las tasas de interés del mercado. Las estimaciones muestran que las reacciones son mucho menores que las originales de Cook y Hahn (1989). Cuando dicha ecuación se modifica para considerar la paridad cubierta de intereses se verifica por una parte que ésta se cumple y que las autoridades monetarias logran afectar las tasas de interés del mercado. Se encuentra evidencia del cumplimiento de la hipótesis de expectativas de tasas de interés.

Download Info

To our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.

Bibliographic Info

Article provided by Fondo de Cultura Económica in its journal El Trimestre Económico.

Volume (Year): LXXVII (2) (2010)
Issue (Month): 306 (abril-junio)
Pages: 393-422

as in new window
Handle: RePEc:elt:journl:v:77:y:2010:i:306:p:393-422

Contact details of provider:
Web page: http://www.fondodeculturaeconomica.com/

Order Information:
Postal: Order print issues directly in our web page or with Guadalupe Galicia at Fondo de Cultura Económica, El Trimestre Económico, Carretera Picacho Ajusco 227, 6° piso,Col. Bosques del Pedregal, CP 14738, Tlalpan, Distrito Federal, México
Email:
Web: http://www.eltrimestreeconomico.com/

Related research

Keywords: tasa de política; estructura a plazo de tasas de interés; hipótesis de paridad cubierta; transparencia; credibilidad;

Other versions of this item:

Find related papers by JEL classification:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:elt:journl:v:77:y:2010:i:306:p:393-422

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Rosa María González Mejía).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.