摘要：This article presents evidence in favor of the hypothesis that the real term structure contains informationabout the expectations of the economic activity in Colombia between 6-12, 6-24, and 12-24 monthsahead. The sign of the estimated coefficients are, in all cases, those predicted by the theory. Theforecast performance of the model is better for the period between 6-12 months ahead than for longerperiods.
关键词：term structure; spread of interest rates; expectations of economic activity.
