Tesis
Estimating the housing investment externalities effects of a public housing program in Chile
Autor
Tiara Torres, Rafael Mirched
Institución
Resumen
In this thesis project, I study the housing investment externalities effects of the DS49, a public housing program in RM, Chile. Using a quasi-experimental strategy, I take
advantage of the characteristics and time variation of the urban treatment to estimate the
causal externalities effects as a function of distance. Reduced form estimation of the effects
demonstrates that, on average, households that are closest to the housing projects invest
more in housing quality and less in security that those furthest away. However, this effect is
predominant in high income households, while those with less resources may be discouraged
to invest. I separate the effects by the time of the project s inauguration and discuss its
implications. A back-of-the-envelope calculation for housing investment externalities indicate
that these could represent an additional return on investment of up to 5.1 %.