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dc.titleTacit Collusion in the Santiago Housing Market
dc.contributor.authorLefort, Fernando
dc.contributor.authorVargas, Miguel
dc.contributor.orgunitDepartment of Research and Chief Economist
dc.coverageChile
dc.date.available2011-09-30T00:00:00
dc.date.issue2011-07-01T00:00:00
dc.description.abstractGiven the numerous and widely acknowledged benefits of a well-functioning housing market, it is vital to understand the degree of competition in that market, which is the starting point for undertaking any policy tool aimed at improving its efficiency. This paper tests the extent of competition in the housing market in Santiago, Chile using a two-step methodology. In the first step, using a hedonic price model, the Santiago housing market is divided into sub-markets, which are analyzed separately. The second step is the tacit collusion test itself, which compares the industry markup with the business cycle in each sub-market using panel data regression models. Evidence of collusion is found in certain sub-markets.
dc.format.extent35
dc.identifier.doihttp://dx.doi.org/10.18235/0011304
dc.identifier.urlhttps://publications.iadb.org/publications/english/document/Tacit-Collusion-in-the-Santiago-Housing-Market.pdf
dc.language.isoen
dc.mediumAdobe PDF
dc.publisherInter-American Development Bank
dc.subjectHousing
dc.subjectTransparency and Anticorruption
dc.subject.jelcodeO54 - Latin America • Caribbean
dc.subject.jelcodeR21 - Housing Demand
dc.subject.jelcodeR23 - Regional Migration • Regional Labor Markets • Population • Neighborhood Characteristics
dc.subject.jelcodeR28 - Government Policy
dc.subject.jelcodeR38 - Government Policy
dc.subject.jelcodeR58 - Regional Development Planning and Policy
dc.subject.keywordshousing market, housing sub-markets, social housing, competition, tacit collusion test
dc.typeWorking Papers
idb.identifier.pubnumberWorking Papers
idb.operationRG-K1125
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