Precios de viviendas. una metodología para evaluar desvíos respecto a sus fundamentos

Fernando Borraz, Gerardo Licandro and Jorge Ponce

No 2012016, Documentos de trabajo from Banco Central del Uruguay

Abstract: This paper contributes to financial stability analysis by proposing a methodology to identify deviations of asset prices over domestic and global fundamentals. We develop a panel data model to estimate the housing price of fundamentals in Uruguay, giving special emphasis to the role of the international fundamentals. This methodology allows us to evaluate deviations of prices from fundamentals. Despite the shortcomings of the series of housing prices in Uruguay we do not find evidence of deviation of housing prices in Uruguay with respect to fundamentals.

Keywords: asset prices; capital flows; housing prices; precios de activos; flujos de capital; precios de vivienda (search for similar items in EconPapers)
JEL-codes: F32 F41 G10 (search for similar items in EconPapers)
Pages: 23 pages
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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