Returns and Interest Rate: A Nonlinear Relationship in the Bogota Stock Market

Número: 
169
DOI: 
http://doi.org/10.32468/be.169
Publicado: 
Authors:
Luis E. Arango,
Andrés Gónzalez,
Carlos Esteban Posada
Clasificación JEL: 
C22, C52
Palabras clave: 
Returns, Interest Rate
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This work presents some evidence of the nonlinear and inverse relationship between the share prices on the Bogotá stock market and the interest rate as measured by the interbank loan interest rate, which is to some extent affected by monetary policy. The