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Derivativos financeiros: hedge, especulação e arbitrage


  • Farhi, Maryse


Hedging operations acquire macroeconomic significance with the expansion of financial derivatives. The specification of the concept of such operations of risk transfer leads to modifications in the concept of speculation. Arbitrage operations intensify, but their frontiers with speculation are not always clear. Both make intense use of leverage which can result in heavy losses.

Suggested Citation

  • Farhi, Maryse, 1999. "Derivativos financeiros: hedge, especulação e arbitrage," Revista Economia e Sociedade, Instituto de Economia, Universidade Estadual de Campinas (UNICAMP), vol. 13, pages 1-22, January.
  • Handle: RePEc:euc:ancoec:v:13:y:1999:p:93-114

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