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El efecto transmisión de los valores públicos con fines de regulación monetaria en las operaciones de ruedo de la Bolsa Boliviana de Valores

Author

Listed:
  • Oscar Eduardo Machicado Mendoza

    (Banco Central de Bolivia)

Abstract

En este trabajo se analiza el vínculo que hay en el nivel de las tasas con fines de regulación monetaria y el nivel de las mismas en las operaciones de ruedo de la Bolsa Boliviana de Valores (BBV). Se explora los temas relacionados en la literatura y, mediante un modelo GARCH, se muestra como la correlación condicional en el periodo comprendido entre 2010 y 2018, presentando una alta correlación en los periodos donde se tenía una mayor cantidad de títulos públicos en el mercado secundario de la BBV. Los resultados nos aportan una medida de relevancia del efecto de la política monetaria en el mercado de valores, la misma que disminuye a medida que el volumen de valores transados es menor, así como la adjudicación de valores públicos con plazos menores a un año.

Suggested Citation

  • Oscar Eduardo Machicado Mendoza, 2019. "El efecto transmisión de los valores públicos con fines de regulación monetaria en las operaciones de ruedo de la Bolsa Boliviana de Valores," Serie de Documentos de Trabajo 2019/01, Banco Central de Bolivia.
    • Handle: RePEc:blv:doctra:2019/01
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    File URL: https://www.bcb.gob.bo/webdocs/publicacionesbcb/2021/05/26/34%20-%20El%20efecto%20transmisi%C3%B3n%20de%20los%20valores%20p%C3%BAblicos%20con%20fines%20de%20regulaci%C3%B3n%20monetaria%20en%20las%20operaciones%20de%20ruedo%20de%20la%20Bolsa%20Boliviana%20de%20Valores.pdf
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    File URL: https://www.bcb.gob.bo/?q=pub_documentos-trabajo
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    More about this item

    Keywords

    GARCH; tasas de interés; operaciones de mercado abierto; mercado de valores;
    All these keywords.

    JEL classification:

    • C58 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Financial Econometrics
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)

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