Canales de transmisión del precio de la vivienda usada en Colombia: una aproximación FAVAR
Fecha
2021-04-13Registro en:
Gómez Romero, O. D. (2021). Canales de transmisión del precio de la vivienda usada en Colombia: una aproximación FAVAR. [Trabajo de pregrado, Universidad Santo Tomás]. Repositorio Institucional.
reponame:Repositorio Institucional Universidad Santo Tomás
instname:Universidad Santo Tomás
Autor
Gómez Romero, Oscar Daniel
Institución
Resumen
This paper analyzes the transmission of house price in Colombia for the period 2001-1 to 2020-6, using a FAVAR model proposed by Bernanke, Boivin and Eliasz (2005), that combines the VAR models and the developments in the dynamic factor analysis. The empirical results shows the FAVAR detected well the transmission of house price in Colombia, specifically the credit channel (collateral effect), consumption (wealth effect) and the supply channel. The outlays of consumption changes in 3% for a change of 1 standard deviation in the house Price index. The GDP of edification changes in 0,3% and, houses sales for a change in 1 standard deviation in the house price index rise up in 240 units, that’s the 1,5% of the monthly average sales in year 2019. The supply chanel is not signficative.