Gómez, Esteban; Vásquez, Diego; Zea, Camilo - BANCO DE LA REPÚBLICA - 2005
Derivatives are contingent claims that complete financial markets. Their use allow agents and firms to ameliorate the … this sense, derivatives generate in some cases a loss in the effectiveness of the traditional monetary transmission … model, the impact of the use of interest rate and exchange rate derivatives in the dilution of colombian monetary channels …