IMPACTOS SOCIALES DEL PAGO DE SERVICIOS AMBIENTALES EN EL ESTADO DE MÉXICO

Abstract

In this research addresses the problem of changes in interest rates and the problems faced by operators participating in the money market, the research analyzes the problems affecting the variation in the rate of interest on a highly volatile economic environment in which our country has witnessed in recent decades. From theoretical models of a factor representing the variation in the rate of interest that is the case of Model Vasicek and CIR, and models that apply to the derivatives market to determine the futures price, the model Black and Scholes model Black and options on futures associated with analyzing a set of financial strategies for the coverage of the interest rate. To settle a research database that includes TIIE28 and TIIE91 days and CETES91 CETES28 and future days and for reporting the Mexder, from the information obtained, a retrospective analysis to evaluate and analyze each strategies to measure their effectiveness and they could be compared. For an empirical test of simple examples are easy to understand and continue with the implementation of portfolios that allow mixing multiple instruments for coverage of the results obtained suggest that it may hedge the effect of variation in the rate of interest with the proposed alternatives and can produce significant economic benefits to those who go to them and thus improve the credibility and certainty of the money market even when volatility is high.