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


  • Luis Eduardo Arango


  • Daniel Eduardo Velandia



Se utiliza información de los mercados de Estados Unidos e Inglaterra para hacerestimaciones actuales de la capacidad que tienen la Reserva Federal y el Banco deInglaterra de afectar las tasas de interés del mercado. Las estimaciones muestran quela reacciones son mucho menores que las originales de Cook y Hahn (1989). Cuandodicha ecuación se modifica para considerar la paridad cubierta de intereses severifica de un lado que esta se cumple y que las autoridades monetarias logranafectar las tasas de interés del mercado. Se encuentra evidencia del cumplimiento dela hipótesis de expectativas de tasas de interés.

Suggested Citation

  • Luis Eduardo Arango & Daniel Eduardo Velandia, 2008. "Cambios de las tasas de política, paridad cubierta de intereses y estructura a plazo," BORRADORES DE ECONOMIA 004589, BANCO DE LA REPÚBLICA.
  • Handle: RePEc:col:000094:004589

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

    JEL classification:

    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • F31 - International Economics - - International Finance - - - Foreign Exchange

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