Derivative markets impact on colombian monetary policy

Borradores de Economia
Número: 
334
Publicado: 
Clasificación JEL: 
E22, E52
Palabras clave: 
Derivatives, Monetary Policy Transmission Channels, Investment

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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