Los productos financieros derivados y la política monetariaevidencia para la Reserva Federal (2000-2015)
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Universidade da Coruña
info
ISSN: 2340-6704, 0210-0266
Año de publicación: 2017
Volumen: 40
Número: 112
Páginas: 31-41
Tipo: Artículo
Otras publicaciones en: Cuadernos de economía: Spanish Journal of Economics and Finance
Resumen
Al tiempo que el uso de los productos financieros derivados se hacía cada vez más frecuente, numerosos trabajos de investigación analizan sus efectos sobre la puesta en práctica de la política monetaria. En el marco teórico de las reglas monetarias de tipos de interés (Taylor rules), a través del método generalizado de los momentos (MGM) contrastamos la influencia de los productos financieros derivados sobre la gestión de la política monetaria por parte de la Reserva Federal entre 2000 y 2015. El análisis realizado nos permite concluir que la volatilidad implícita del mercado de derivados es una variable explicativa del comportamiento del tipo de interés nominal de corto plazo.
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