Examinando por Autor "Restrepo Puerta, Juan Manuel"
Mostrando 1 - 4 de 4
Resultados por página
Opciones de ordenación
Ítem ¿Existe el Enigma de la Prima de Riesgo en el Mercado Bursátil Colombiano? 1993-2002(Universidad EAFIT, 2004-10-15) Montoya Osorio, Isabel Cristina; Restrepo Puerta, Juan ManuelIn this study we search for evidence of the existence of the equity premium puzzle in the colombian stock market and to estimate the risk aversion of a representative investor in this market. This study covers the period December 1993 – January 2002. For that propose we used the asset pricing model with a representative agent based on two different utility functions: CRRA and habit formation. We conclude that different than of the reported evidence in several developed and developing markets, in the Colombian stock market there is no evidence of the puzzle. As it is expected from by the low volatility of consumption and the low covariance between this one and the returns from stocks, the risk aversion coefficient characteristic of an investor in this market is close to zero.Ítem ¿Existe el Enigma de la Prima de Riesgo en el Mercado Bursátil Colombiano? 1993-2002(Universidad EAFIT, 15/10/2004) Montoya Osorio, Isabel Cristina; Restrepo Puerta, Juan Manuel; Universidad EAFITÍtem Will FTAA Bring Income Convergence?(Universidad EAFIT, 2003-10-13) Maya Ochoa, Cecilia; Restrepo Puerta, Juan ManuelBy the beginning of year 2006, the Free Trade Area of the Americas, FTAA, will be launched. Mixed expectations and concerns about its effects on the individual economies have grown in the area since this process started in December, 1994. This paper aims to discuss a particular expectation –or concern- which is: Will this liberalization of the Americas contribute to increase or to decrease the huge gap in per capita income between the industrialized economies of the North, -Canada and the U.S.- and the other thirty-two countries? Based on the analysis of empirical evidence on current trade areas in the region, we conclude that even in the case of equal trade, where the agreement manages to conciliate the interests of developed and less developed countries, income convergence will, probably, not be one of the outcomes of this liberalization. The lack of symmetry in an area which gathers countries at very different stages of development, an asymmetry much more pronounced in them FTAA because it includes the largest economy in the world, prevent us from expecting income convergence even if this trade area becomes a successful one.Ítem Will FTAA Bring Income Convergence?(Universidad EAFIT, 15/10/2003) Maya Ochoa, Cecilia; Restrepo Puerta, Juan Manuel; Universidad EAFIT