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Derivative markets impact on colombian monetary policy

Esteban
Gómez-González
Diego Mauricio
Vásquez
Camilo
Zea
Domingo, 1 Mayo 2005

Derivatives are contingent claims that complete financial markets. Their use allow agents and firms to ameliorate the impact over con-sumption, production and investment given a change in relative prices induced by an active monetary policy. In this sense