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Evolución de los precios de la vivienda en Colombia

  • Gustavo Adolfo HERNANDEZ DIAZ

    ()

  • Gabriel PIRAQUIVE GALEANO

    ()

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    Durante los últimos tres o cuatro años los precios de la vivienda han presentado un gran crecimiento, lo cual ha llevado a hablar acerca de una burbuja hipotecaría. La evidencia estadística presentada muestra que, en efecto puede existir un periodo de burbuja de precios. Sin embargo, al analizar diferentes explicaciones para este crecimiento de los precios (desalineamiento de los precios, enfermedad holandesa, crecimiento de los ingresos y la respuesta a la política fiscal), se encuentra que los factores que puede explicar mejor este fenómeno es una corrección de los precios de la vivienda, debido a la caída de los precios de estos activos a finales de los noventa, y un crecimiento en el poder adquisitivo de los hogares.

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    Paper provided by DEPARTAMENTO NACIONAL DE PLANEACIÓN in its series ARCHIVOS DE ECONOMÍA with number 011208.

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    Length: 43
    Date of creation: 10 Jan 2014
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    Handle: RePEc:col:000118:011208
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    1. José Eduardo Gómez & Jair Ojeda Ojeda & Catalina Rey Guerra & Natalia Sicard, 2013. "Testing for Bubbles in Housing Markets: New Results Using a New Method," BORRADORES DE ECONOMIA 010456, BANCO DE LA REPÚBLICA.
    2. Peter C.B. Phillips & Shu-Ping Shi & Jun Yu, 2011. "Testing for Multiple Bubbles," Working Papers 09-2011, Singapore Management University, School of Economics.
    3. Jose A. Scheinkman & Wei Xiong, 2003. "Overconfidence and Speculative Bubbles," Journal of Political Economy, University of Chicago Press, vol. 111(6), pages 1183-1219, December.
    4. J. Bradford De Long & Andrei Shleifer & Lawrence H. Summers & Robert J. Waldmann, 1989. "Positive Feedback Investment Strategies and Destabilizing Rational Speculation," NBER Working Papers 2880, National Bureau of Economic Research, Inc.
    5. Dilip Abreu & Markus K. Brunnermeier, 2002. "Bubbles and crashes," LSE Research Online Documents on Economics 24905, London School of Economics and Political Science, LSE Library.
    6. Clavijo Sergio & Michel Janna & Santiago Muñoz, 2005. "La vivienda en Colombia: sus determinantes socioeconómicos y financieros," REVISTA DESARROLLO Y SOCIEDAD, UNIVERSIDAD DE LOS ANDES-CEDE.
    7. Yiu, Matthew S. & Yu, Jun & Jin, Lu, 2013. "Detecting bubbles in Hong Kong residential property market," Journal of Asian Economics, Elsevier, vol. 28(C), pages 115-124.
    8. J. Bradford De Long & Andrei Shleifer & Lawrence H. Summers & Robert J. Waldmann, . "Noise Trader Risk in Financial Markets," J. Bradford De Long's Working Papers _124, University of California at Berkeley, Economics Department.
    9. Hyman P. Minsky, 1992. "The Financial Instability Hypothesis," Economics Working Paper Archive wp_74, Levy Economics Institute.
    10. Stiglitz, Joseph E, 1990. "Symposium on Bubbles," Journal of Economic Perspectives, American Economic Association, vol. 4(2), pages 13-18, Spring.
    11. Natalia Salazar & Roberto Steiner & Alejandro Becerra & Jaime Ramírez, 2013. "Los efectos del precio del suelo sobre el precio de la vivienda para Colombia," ENSAYOS SOBRE POLÍTICA ECONÓMICA, BANCO DE LA REPÚBLICA - ESPE.
    12. Frankel, Jeffrey, 2010. "The Natural Resource Curse: A Survey," Working Paper Series rwp10-005, Harvard University, John F. Kennedy School of Government.
    13. Juan Esteban Carranza & Salvador Navarro, 2010. "Estimating Dynamic Models with Aggregate Shocks And an Application to Mortgage Default in Colombia," BORRADORES DE ECONOMÍA Y FINANZAS 007140, UNIVERSIDAD ICESI.
    14. Adam S. Posen, 2006. "Why Central Banks Should Not Burst Bubbles," International Finance, Wiley Blackwell, vol. 9(1), pages 109-124, 05.
    15. Juan Esteban Carranza, 2011. "La indexación de los saldos hipotecarios y la crisis colombiana de final de siglo XX," REVISTA DESARROLLO Y SOCIEDAD, UNIVERSIDAD DE LOS ANDES-CEDE.
    16. Nouriel Roubini, 2006. "Why Central Banks Should Burst Bubbles," International Finance, Wiley Blackwell, vol. 9(1), pages 87-107, 05.
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