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Efectos de mecanismos institucionales en el precio de la vivienda nueva en Medelli?n

Author

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  • John J. García

    ()

  • Daniel Mateo Cossio

    ()

  • Ricardo Mesa Urhan

    ()

Abstract

El objetivo de esta investigacio?n es determinar el impacto que tienen los mecanismos de trasmisio?n de la poli?tica pu?blica en la determinacio?n del precio de la vivienda nueva en Medelli?n, Colombia. Utilizando un modelo de Vectores Auto Regresivos Estructural los principales resultados evidencian que el impacto de un choque de la Unidad de Valor Real (UVR) sobre el precio de la vivienda nueva en Medelli?n es que el precio del metro cuadrado es ela?stico ante variaciones en la UVR en el corto plazo. Adema?s, por medio de un modelo de ecuaciones simulta?neas, estimado por Sistema de Ecuaciones Aparentemente no Relacionadas y Mi?nimos Cuadrados en Tres Etapas, el Fondo de Reserva para la Estabilizacio?n de la Cartera Hipotecaria (FRECH) presenta una relacio?n positiva sobre la demanda de vivienda, mientras que la tasa de intere?s hipotecaria tiene una relacio?n negativa con la demanda. En la medida en que se implementan subsidios como estos, la demanda de vivienda tiende a incrementarse y, a su vez, genera una presio?n al alza del precio de la vivienda nueva. En este sentido los mecanismos institucionales son un incentivo fundamental para el buen desempen?o del sector de la construccio?n.

Suggested Citation

  • John J. García & Daniel Mateo Cossio & Ricardo Mesa Urhan, 2017. "Efectos de mecanismos institucionales en el precio de la vivienda nueva en Medelli?n," Documentos de Trabajo CIEF 015658, Universidad EAFIT.
  • Handle: RePEc:col:000122:015658
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    File URL: https://repository.eafit.edu.co/handle/10784/11431#.WWjZMNPyvq0
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    References listed on IDEAS

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    1. Zhang, Chuanchuan & Jia, Shen & Yang, Rudai, 2016. "Housing affordability and housing vacancy in China: The role of income inequality," Journal of Housing Economics, Elsevier, vol. 33(C), pages 4-14.
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    5. Sims, Christopher A, 1980. "Macroeconomics and Reality," Econometrica, Econometric Society, vol. 48(1), pages 1-48, January.
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    More about this item

    Keywords

    vivienda nueva; modelo de oferta y demanda; UVR; VARE; SANR; MC3E; Medellín –Colombia;

    JEL classification:

    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
    • L74 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Construction

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