Influencia de la macroeconomía en los mercados financieros

Rosa Magán Ayuso

Resumen


En la literatura financiera, la relación entre la evolución de los índices bursátiles y las variables macroeconómicas se aborda a partir del estudio de los modelos de valoración de activos financieros. En este trabajo se analizan los resultados principales obtenidos por la evidencia empírica en este campo, partiendo del modelo Capital Asset Pricing Model (CAPM), cuyo desarrollo dará lugar a la Arbitrage Pricing Theory (APT) y su desglose posterior en los modelos multifactoriales de valoración de activos con variables macroeconómicas definidas a priori.

Palabras clave


modelos de valoración de activos financieros Índices bursátiles; variables macroeconómicas; Capital Asset Pricing Model (CAPM); Arbitrage Pricing Theory (APT)

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Referencias


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