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Evolución del proceso de titulación en España


  • Susana Blanco García

    (Departamento de Economía Financiera y Contabilidad I (Economía Financiera y Actuarial). Universidad Complutense de Madrid.)

  • Pedro Carvajal Molina

    (Dpto. Economía Financiera y Contabilidad. Facultad. CC Económicas. Universidad Rey Juan Carlos.)


El proceso de titulización de activos es entendido como la transformación de derechos de crédito presentes y futuros en valores de renta fija negociables, dando de baja en el balance de las entidades cedentes los activos vendidos. Todo proceso de titulización conlleva la transformación de un conjunto de activos heterogéneos en cuanto a sus características financieras (valor nominal, intereses, índice de referencia, vencimiento, sistema de amortización, riesgo, etc.) en otro paquete de activos seriados, de mayor importe, fácil transmisión, líquidos, de igual amortización y con riesgo crediticio mejorado.

Suggested Citation

  • Susana Blanco García & Pedro Carvajal Molina, 2001. "Evolución del proceso de titulación en España," Documentos de trabajo de la Facultad de Ciencias Económicas y Empresariales 01-11, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales.
  • Handle: RePEc:ucm:doctra:01-11

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    References listed on IDEAS

    1. Kenneth Rogoff, 1985. "The Optimal Degree of Commitment to an Intermediate Monetary Target," The Quarterly Journal of Economics, Oxford University Press, vol. 100(4), pages 1169-1189.
    2. Lohmann, Susanne, 1992. "Optimal Commitment in Monetary Policy: Credibility versus Flexibility," American Economic Review, American Economic Association, vol. 82(1), pages 273-286, March.
    3. Svensson, Lars E O, 1997. "Optimal Inflation Targets, "Conservative" Central Banks, and Linear Inflation Contracts," American Economic Review, American Economic Association, vol. 87(1), pages 98-114, March.
    4. Barro, Robert J & Gordon, David B, 1983. "A Positive Theory of Monetary Policy in a Natural Rate Model," Journal of Political Economy, University of Chicago Press, vol. 91(4), pages 589-610, August.
    5. Leeper, Eric M., 1991. "Equilibria under 'active' and 'passive' monetary and fiscal policies," Journal of Monetary Economics, Elsevier, vol. 27(1), pages 129-147, February.
    6. Cochrane, John H, 2001. "Long-Term Debt and Optimal Policy in the Fiscal Theory of the Price Level," Econometrica, Econometric Society, vol. 69(1), pages 69-116, January.
    7. Waller, Christopher J & Walsh, Carl E, 1996. "Central-Bank Independence, Economic Behavior, and Optimal Term Lengths," American Economic Review, American Economic Association, vol. 86(5), pages 1139-1153, December.
    8. Leith, Campbell & Wren-Lewis, Simon, 2000. "Interactions between Monetary and Fiscal Policy Rules," Economic Journal, Royal Economic Society, vol. 110(462), pages 93-108, March.
    9. Kydland, Finn E & Prescott, Edward C, 1977. "Rules Rather Than Discretion: The Inconsistency of Optimal Plans," Journal of Political Economy, University of Chicago Press, vol. 85(3), pages 473-491, June.
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    Titulos valores España; Titulización de activos.;

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