El impacto de un ambiente de bajos tipos de interés. Los �spillovers� de liquidez global y la búsqueda del rendimiento

• Autores: Ansgar Belke
• Localización: Aestimatio: The IEB International Journal of Finance, ISSN 2173-0164, Nº. 7, 2013, págs. 94-119
• Idioma: inglés
• Enlaces
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• Dialnet Métricas: 1 Cita
• Resumen

  • El 10 de Enero de 2013, el Consejo de Gobierno del BCE decidió �mantener inalterados sus tipos de interés oficiales� al valorar la presión inflacionaria como �contenida� y la actividad económica como �débil�, una contracción del PIB real en el segundo y tercer trimestre de 2012. Decisiones similares han sido tomadas por los principales bancos centrales del mundo. Este artículo evalúan y comentan varios aspectos del ambiente implícito de bajos tipos de interés. En él se realizan primeramente algunas consideraciones generales relativas al ambiente de reducidos tipos de interés reinante en la actualidad en las economías avanzadas. Posteriormente, se abordan los conflictos potenciales entre la política monetaria y la estabilidad financiera en dicho ambiente y se derivan más implicaciones prácticas sobre la necesidad de supervisión de los fondos de pensiones y el sector seguros. También se evalúan las oportunidades de inversión para los inversores minoristas en el referido entorno de bajos tipos de interés y, finalmente, se resaltan ejemplos de los principales beneficiarios y perjudicados de tal entorno

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