Analysis of the reference interest rates in Costa Rica, in national and foreign currency, from a financial investment perspective using the Fischer International Effect methodology

Analysis of the reference interest rates in Costa Rica, in national and foreign currency, from a financial investment perspective using the Fischer International Effect methodology

Detalles Bibliográficos
Autores principales: Arguedas Campos, Carlos Leonardo, Vallejo Esquivel, Gustavo Mauricio
Formato: Online
Idioma:spa
Publicado: Universidad Nacional, Costa Rica 2019
Acceso en línea:https://www.revistas.una.ac.cr/index.php/economia/article/view/12359
id ECONOMIA12359
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spelling ECONOMIA123592023-02-09T21:04:06Z Analysis of the reference interest rates in Costa Rica, in national and foreign currency, from a financial investment perspective using the Fischer International Effect methodology Análisis de las tasas de interés de referencia en Costa Rica, en moneda nacional y extranjera, desde una perspectiva de inversión financiera utilizando la metodología del Efecto Fischer Internacional Análise das taxas de juro de referência na Costa Rica, em moeda nacional e estrangeira, a partir de uma perspectiva de investimento financeiro usando a metodologia do Efeito Fisher Arguedas Campos, Carlos Leonardo Vallejo Esquivel, Gustavo Mauricio capital gain financial decision credit observed exchange rate economic indicators ganancia de capital decisión financiera crédito tipo de cambio observado indicadores económicos ganho de capital decisão financeira crédito tipo de cambio observado indicadores econômicos The purpose of this article is to analyze, three indicators of the Central Bank of Costa Rica (BCCR): the basic passive rate (TBP), the exchange rate of the colon with respect to the US dollar (TC) and the effective rate in dollars (TED); as macroeconomic components that affect the valuation of an investment in colones or dollars. The study is carried out through the construction of an International Fischer Effect model (EFI), for the period between the first quarter of 2016 and the first quarter of 2019. Based on this model, it is evaluated, if during this period investing in dollars can generate a capital gain; in addition, the importance of absolute exchange rate changes to make such investments in dollars is outlined. El propósito del presente artículo es analizar tres indicadores del Banco Central de Costa Rica (BCCR): la tasa básica pasiva (TBP), el tipo de cambio del colón con respeto al dólar estadounidense (TC) y la tasa efectiva en dólares (TED); todos estos como componentes macroeconómicos que afectan la valoración de una inversión en colones o en dólares. El estudio se hará mediante la construcción de un modelo del efecto Fischer internacional (EFI), para el período comprendido entre el primer trimestre de 2016 y el primer trimestre de 2019. A partir de dicho modelo se evaluará, si durante este período invertir en dólares puede generar una ganancia de capital, y se esbozará la importancia que tienen los cambios absolutos del tipo de cambio para realizar dichas inversiones. O objetivo deste artigo é analisar três indicadores do Banco Central da Costa Rica (BCCR): a taxa passiva básica (TBP), a taxa de câmbio do cólon em relação ao dólar americano (TC) e a taxa efetiva do dólar (TED) ; tudo isso como componentes macroeconômicos que afetam a avaliação de um investimento em cólon ou dólar. O estudo será realizado através da construção de um modelo internacional de efeito Fischer (EFI), para o período entre o primeiro trimestre de 2016 e o primeiro trimestre de 2019. Com base nesse modelo será avaliado se, durante esse período, investir em dólares pode gerar um ganho de capital e será delineada a importância de mudanças absolutas na taxa de câmbio para realizar esses investimentos. Universidad Nacional, Costa Rica 2019-08-30 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion application/pdf text/html application/epub+zip https://www.revistas.una.ac.cr/index.php/economia/article/view/12359 10.15359/eys.24-56.2 Economía y Sociedad; Vol. 24 No. 56 (2019): Economía & Sociedad (July-december); 21-51 Economía y Sociedad; Vol. 24 Núm. 56 (2019): Economía & Sociedad (Julio-diciembre); 21-51 Economía y Sociedad; v. 24 n. 56 (2019): Economía & Sociedad (julho a dezembro); 21-51 2215-3403 1409-1070 spa https://www.revistas.una.ac.cr/index.php/economia/article/view/12359/17273 https://www.revistas.una.ac.cr/index.php/economia/article/view/12359/18363 https://www.revistas.una.ac.cr/index.php/economia/article/view/12359/18364
institution Universidad Nacional de Costa Rica
collection Economía y Sociedad
language spa
format Online
author Arguedas Campos, Carlos Leonardo
Vallejo Esquivel, Gustavo Mauricio
spellingShingle Arguedas Campos, Carlos Leonardo
Vallejo Esquivel, Gustavo Mauricio
Analysis of the reference interest rates in Costa Rica, in national and foreign currency, from a financial investment perspective using the Fischer International Effect methodology
author_facet Arguedas Campos, Carlos Leonardo
Vallejo Esquivel, Gustavo Mauricio
author_sort Arguedas Campos, Carlos Leonardo
title Analysis of the reference interest rates in Costa Rica, in national and foreign currency, from a financial investment perspective using the Fischer International Effect methodology
title_short Analysis of the reference interest rates in Costa Rica, in national and foreign currency, from a financial investment perspective using the Fischer International Effect methodology
title_full Analysis of the reference interest rates in Costa Rica, in national and foreign currency, from a financial investment perspective using the Fischer International Effect methodology
title_fullStr Analysis of the reference interest rates in Costa Rica, in national and foreign currency, from a financial investment perspective using the Fischer International Effect methodology
title_full_unstemmed Analysis of the reference interest rates in Costa Rica, in national and foreign currency, from a financial investment perspective using the Fischer International Effect methodology
title_sort analysis of the reference interest rates in costa rica, in national and foreign currency, from a financial investment perspective using the fischer international effect methodology
title_alt Análisis de las tasas de interés de referencia en Costa Rica, en moneda nacional y extranjera, desde una perspectiva de inversión financiera utilizando la metodología del Efecto Fischer Internacional
Análise das taxas de juro de referência na Costa Rica, em moeda nacional e estrangeira, a partir de uma perspectiva de investimento financeiro usando a metodologia do Efeito Fisher
publisher Universidad Nacional, Costa Rica
publishDate 2019
url https://www.revistas.una.ac.cr/index.php/economia/article/view/12359
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