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Estimación de la inflación regional de los precios de la vivienda en Chile

  • López, Esteban

    (Universidad Católica del Norte)

  • Aroca, Patricio

Inflation has been constantly studied at national level because its negative effects over the economy, however this problem has generally been ignored at regional scale, mainly because the assumption that regions have a homogeneous inflation behavior. Expanding the Paredes and Aroca (2008) methodology to the temporal dimension and using National Statistics Institute (INE) data, this paper contributes with an estimation of regional housing inflation for Chilean regions. Main results suggest that regions besides bear different cost of living (higher for extreme regions than those in the center), are also showing heterogeneous speed in their price evolution process. This result suggests that effects of housing policies (and potentially other sectors policies) are heterogeneous between regions and more inefficient than those that could be implemented when taking account of the different regional inflation pattern.// Este artículo estima que la evolución del producto real y per capita de México entre 1895 y 2008 se puede describir adecuadamente por medio de un modelo estacionario en tendencia, afectado por cuatro cambios estructurales, cuya ocurrencia coincide con cambios institucionales internos, guerras y crisis económicas y financieras. La inflación ha sido permanentemente estudiada en Chile por sus efectos negativos en la economía; sin embargo su investigación es escasa por región, porque ha primado el supuesto de que las economías regionales tienen un comportamiento homogéneo respecto a la inflación. Extendiendo la metodología de Paredes y Aroca (2008) al plano temporal y utilizando información de inflación nacional producida por el Instituto Nacional de Estadísticas, este artículo contribuye con una estimación de la inflación de los precios de las viviendas de las regiones chilenas. Los resultados sugieren que las regiones además de tener distintos costos de vida (más altos para las regiones extremas que para las del centro), muestran una evolución con velocidades diferentes. Esto sugiere que la elaboración de políticas habitacionales (y potencialmente en todos los sectores) destinadas a reducir la inflación tengan efectos heterogéneos en el territorio y sean menos eficaces de las que podrían formularse considerando las diferencias inflacionarias entre las regiones.

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Article provided by Fondo de Cultura Económica in its journal El Trimestre Económico.

Volume (Year): LXXIX (2012)
Issue (Month): 315 (julio-septiembre)
Pages: pp. 601-630

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Handle: RePEc:elt:journl:v:79:y:2012:i:315:p:601-630
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