This paper provides a risk hedging strategy for energy markets using renewable energy sources. In a climate emergency context, an understanding of optimal risk hedging strategies is not only important for energy companies, but also for regulators and policy makers. From the perspective of energy...

The Central Bank uses press releases after board meetings for at least three purposes: first, to justify policy measures based on the economic situation; second, to provide some forward guidance signals to agents; and third, to supply some further (latent) information to the markets. This...

We studied the foreign exchange risk premium in the Colombian market for the USD/COP exchange rate. Likewise most literature, we consider the existence of the risk premium, as we assessed the problem considering future contracts prices and spot prices at four different times of the morning....

The official estimation for the term structure model in Colombia is based on the Nelson and Siegel (1987) development which is widely accepted and used. This estimation is based on the curve fitting with available data, only for one day ahead, making difficult to estimate the future zero-coupon...

Spanish Abstract: Los mercados de contratos futuros tienen como fortaleza la eliminación del riesgo de contraparte, para esto es importante el nivel de garantías que las cámaras de riesgo exigen a los participantes del mercado. Estas garantías deben cubrir las variaciones extremas del precio...

Currently, the world is facing a continuous process of integration in di fferent aspects and fi nancial markets are no exception to this development. Despite the fact that global integration is gradual, one can fi nd some specfi c events that might help to accelerate this trend. This paper shows...