Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/89043
Authors: 
Lefort, Fernando
Vargas, Miguel
Year of Publication: 
2011
Series/Report no.: 
IDB Working Paper Series IDB-WP-260
Abstract: 
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.
JEL: 
O54
R21
R23
R28
R31
R38
R58
Document Type: 
Working Paper

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