Abstract

SOTO ESQUIVEL, Roberto  and  CORREA VAZQUEZ, Eugenia. Modelos de crisis y el uso de los instrumentos financieros derivados. Prob. Des [online]. 2008, vol.39, n.155, pp.11-27. ISSN 0301-7036.

With the ending of Bretton Woods, the financial markets became more unstable and volatile, and this led to more recurrent crisis scenarios that have become increasingly profound. Orthodox theorists have sought to predict this type of crisis by means of the so-called first, second and third generation models, but they lack the formulation of analysis and interpretation of financial derivatives, which can modify the behavior of the fundamental variables and interfere with the performance of the monetary and financial authorities, as well as the fulfillment of their objectives.

Keywords : models; financial crises; financial innovation; deregulation and derivatives markets.