Abstract

ARANGO ARANGO, Mónica  and  RAMIREZ HASSAN, Andrés. AVERSIÓN AL RIESGO Y TASA SUBJETIVA DE DESCUENTO: EL CASO COLOMBIANO, 1970-2003. Rev. ing. univ. Medellin [online]. 2007, vol.6, n.10, pp.93-99. ISSN 1692-3324.

This article shows the econometric estimations of the risk aversion and the subjective discount-rate parameters in the Colombian economy. The period is from 1970 to 2003 and the structured form is given by the CCAPM. It has been found that the representative agent is characterized by being a risk lover and impatient.

Keywords : Risk aversion; subjective rates of discount; consumption CAPM.

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