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Unexpected guests: The impact of internal displacement inflows on rental prices in Colombian host cities

Emilio Depetris-Chauvin and Rafael J. Santos

Journal of Development Economics, 2018, vol. 134, issue C, 289-309

Abstract: We study the causal impact of internally displaced people (IDP) inflows on rental prices in Colombian host cities. Following an instrumental variables approach we find that as IDP inflows increase, low-income rental prices increase and high-income rental prices decrease. We provide empirical evidence on two potential mechanisms for these findings: Excess demand for low-income housing puts upwards pressure on rental prices; increasing supply of high-income housing coupled with rising homicide rates put downwards pressure on rental prices.

Keywords: Internal displaced people; Migration; Crime; Rental prices (search for similar items in EconPapers)
JEL-codes: J1 O15 R23 R31 (search for similar items in EconPapers)
Date: 2018
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