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Effects of Venezuelan migration on Colombian price level

Author

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  • Julio César Daly

Abstract

This study evaluates the causal impact of the Venezuelan migration on the price level of goods and services in Colombian host cities. The inflow of migrants to a city have a demand shock through an increase in consumption levels, and a supply shock through a decrease in the production costs. I use an Enclave instrumental variable strategy, which exploits the tendency of migrants to settle in places with previous migrant networks. I find that the Venezuelan migration increases averages prices in the non-tradable sector and has no effect on the price of food, tradable goods, transport and energy sectors. I provide evidence that this result may be related to the effect migration has on the price of education and housing. My estimates suggests that a 1 percentage point increase in the migration rate is associated with an 0.913% average increase in the price of the nontradables. This result is consistent with a demand side shock.

Suggested Citation

  • Julio César Daly, 2021. "Effects of Venezuelan migration on Colombian price level," Documentos CEDE 19102, Universidad de los Andes, Facultad de Economía, CEDE.
    • Handle: RePEc:col:000089:019102
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    File URL: https://repositorio.uniandes.edu.co/bitstream/handle/1992/49481/dcede2021-08.pdf
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    More about this item

    Keywords

    Migration; Prices; Enclave; IV.;
    All these keywords.

    JEL classification:

    • F22 - International Economics - - International Factor Movements and International Business - - - International Migration
    • J15 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Minorities, Races, Indigenous Peoples, and Immigrants; Non-labor Discrimination
    • J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand

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