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El efecto riqueza de la vivienda en Colombia

Listed author(s):
  • Enrique López Enciso

    ()

  • Andrés Salamanca Lugo

    ()

Este documento analiza la riqueza en vivienda como un canal de trasmisión de lapolítica monetaria en Colombia, a partir de la evidencia de un modelo deEquilibrio general dinámico y estocástico calibrado para la economía colombiana.La medición del efecto riqueza para Colombia arrojó como resultado unapropensión marginal a consumir anual igual a 0,012. Con estos resultados, seencontró que el efecto riqueza estimado es poco significativo en relación a lasmedidas realizadas para otros países. El análisis de impulso-respuesta mostró que:i) el efecto riqueza posee una duración esperada corta y con efectos asimétricossobre el consumo; ii) el canal de oferta de vivienda de la política monetaria espequeño aunque sus efectos de jalonamiento sobre los demás sectores de laeconomía son importantes y; iii) los efectos del apalancamiento del créditohipotecario son pequeños.

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File URL: http://www.banrep.gov.co/docum/ftp/borra551.pdf
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Paper provided by BANCO DE LA REPÚBLICA in its series BORRADORES DE ECONOMIA with number 005301.

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Length: 59
Date of creation: 24 Feb 2009
Handle: RePEc:col:000094:005301
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