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Elasticidad precio de la oferta inmobiliaria en el Gran Santiago

Housing supply elasticity in Greater Santiago

Francisco-Javier Lozano Navarro ()

MPRA Paper from University Library of Munich, Germany

Abstract: The aim of this article is to model the housing market in Greater Santiago from a supply perspective, using a Tobin-q equation to explain residential investment and taking into account its fundamentals: house prices, land prices and construction costs. Price elasticity coefficients are estimated and the following hypothesis contrasted: 1) there exist significant differences among areas within the city, which are probably caused by regulation; and 2) areas with more elastic supply present moderate price adjustments.

Keywords: Housing supply; house prices; residential investment, q-theory (search for similar items in EconPapers)
JEL-codes: R21 R31 (search for similar items in EconPapers)
Date: 2015-02-01
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