Tacit Collusion in the Santiago Housing Market

Arbeitspapier

Given 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.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: IDB Working Paper Series ; No. IDB-WP-260

Classification and Topics

• Classification: Wirtschaft ; Economywide Country Studies: Latin America; Caribbean ; Urban, Rural, Regional, Real Estate, and Transportation Economics: Housing Demand ; Urban, Rural, Regional, Real Estate, and Transportation Economics: Regional Migration; Regional Labor Markets; Population; Neighborhood Characteristics ; Urban, Rural, Regional, Real Estate, and Transportation Economics: Government Policy ; Housing Supply and Markets ; Production Analysis and Firm Location: Government Policy ; Regional Development Planning and Policy

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Lefort, Fernando ; Vargas, Miguel
• Event: Veröffentlichung
• (who): Inter-American Development Bank (IDB)
• (where): Washington, DC
• (when): 2011

Further information

• Handle: http://hdl.handle.net/10419/89043
• Last update: 10.03.2025, 11:42 AM CET