Estructura a plazo, hipótesis de expectativas y paridad descubierta de intereses en Colombia

Abstract

In recent years, the development of the Colombian financial markets have done that the integration with the international markets had been evident. For this reason, the research about the relation level between different interest rates is outstanding. This paper, try to find evidence about the fulfillment of the uncovered interest rate parity (UIP) and expectations hypothesis of the term structure of interest rates (EHTS) through the use of zero-coupon yield curve for Colombia and United States, follow the methodology used for Bekaert (2002). The research concludes that the fulfillment of EHTS and UIP hypothesis simultaneously is difficult even between rates of the same nationality