Abstracto
- The objective of this work was to analyze the empirical evidence of the effects of inflation on the long-term interest rate in Colombia in the period 2005 - 2019. It is the result of a spontaneous investigation by the author to do an empirical work with official data to test the consistency of the economic theory of Fisher's hypothesis. With information from the Banco de la Republica de Colombia for the case of the interest rate and the national administrative department of statistics DANE for inflation. Descriptive statistics, dispersion measures were used, in addition to econometric techniques such as unit root tests and cointegration, the degree of integration of the two variables was determined, chance analysis was also done by the Granger method. As a theoretical framework, the Fisher hypothesis was used, which proposes a relationship between future changes in the nominal interest rate because of present and future inflation. The results allow us to appreciate the high relationship in these two variables, as well as integration, which allows us to conclude that inflation determines the future behavior of the interest rate in Colombia.
