Resumen

VASICEK, Oldrich Alfons  y  VENEGAS-MARTINEZ, Francisco. Models of the Term Structure of Interest Rates: Review, Trends and Perspectives. Rev. mex. econ. finanz [online]. 2021, vol.16, n.2, e587.  Epub 08-Abr-2022. ISSN 2448-6795.  https://doi.org/10.21919/remef.v16i2.587.

The paper provides an overview of models of the term structure of interest rates. It is a technical exposition of the theory of arbitrage-free behavior of interest rates of different maturities. The short rate models acquire current relevance for their ability to describe and explain the existence of negative interest rates, as they have been observed in Europe and Asia. Current economic conditions, in an environment of uncertainty generated by a global economic recession, affect the behavior of interest rates, which invites a more detailed review of the factors that influence in their dynamics. This article aims to review the trends and perspectives of models of the term structure and highlights some areas for future research.

Palabras llave : interest rates; term structure; Vasicek model.

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