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Abstract
The great development of the Chilean capital market in the last decade, as well as the emergence and consolidation of large institutional investors, seems to indicate that the term structure of interest rates in Chile could be explained by the market segmentation theory or by preferred habitat theory. In this work, we seek evidence of the term structure of interest rates in the Chilean market in attempt to determine if market segmentation affects term structure more or less than the combined influences of expectations and systematic risk aversion.
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