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Politica de control de rentas e inversion bajo incertidumbre

Author

Listed:
  • Leonardo Gonzalez Tejeda

    () (Universidad de Guadalajara)

Abstract

La imposicion de una politica de control de rentas (PCR) tiene multiples implicaciones: variaciones en el valor de capital residencial, depreciacion acelerada de la vivienda, cambio acelerado en el uso del suelo, existencia de mercados no controlados, transferencia de derechos de propiedad, asi como variaciones en la prima de riesgo del mercado de alquiler de la vivienda. Ante la incertidumbre de implementar una politica de control de rentas, la inversion solo tiene lugar si se observa un precio mayor por unidad de servicios de vivienda debido a que los inversionistas poseen expectativas futuras sobre la implementacion de una PCR. La prima de riesgo sobre control de rentas crea una situacion donde la inversion se ve limitada. La oferta, en el momento de PCR, se vuelve perfectamente inelastica y beneficia a los inquilinos que ocupan la vivienda en el momento de su implementacion. Bajo incertidumbre se obtiene un precio sombra dada la existencia de movimientos aleatorios en la demanda y/o riesgo de imposicion de controles de precios.

Suggested Citation

  • Leonardo Gonzalez Tejeda, 2005. "Politica de control de rentas e inversion bajo incertidumbre," EconoQuantum, Revista de Economia y Negocios, Universidad de Guadalajara, Centro Universitario de Ciencias Economico Administrativas, Departamento de Metodos Cuantitativos y Maestria en Economia., vol. 1(2), pages 81-101, Enero-Jun.
  • Handle: RePEc:qua:journl:v:1:y:2005:i:2:p:81-101
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    References listed on IDEAS

    as
    1. Dixit, Avinash, 1991. "Irreversible Investment with Price Ceilings," Journal of Political Economy, University of Chicago Press, vol. 99(3), pages 541-557, June.
    2. Epple, Dennis, 1998. "Rent control with reputation: theory and evidence," Regional Science and Urban Economics, Elsevier, vol. 28(6), pages 679-710, November.
    3. Malpezzi, Stephen, 1998. "Welfare analysis of rent control with side payments: a natural experiment in Cairo, Egypt1," Regional Science and Urban Economics, Elsevier, vol. 28(6), pages 773-795, November.
    4. Richard Arnott, 1995. "Time for Revisionism on Rent Control?," Journal of Economic Perspectives, American Economic Association, vol. 9(1), pages 99-120, Winter.
    5. Skelley, Chris, 1998. "Rent control and complete contract equilibria," Regional Science and Urban Economics, Elsevier, vol. 28(6), pages 711-743, November.
    6. George Fallis & Lawrence B. Smith, 1985. "Price Effects of Rent Control on Controlled and Uncontrolled Rental Housing in Toronto: A Hedonic Index Approach," Canadian Journal of Economics, Canadian Economics Association, vol. 18(3), pages 652-659, August.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    control de rentas; riesgo; mercado controlado y no controlado;

    JEL classification:

    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

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