Examinando por Autor "García, John Jairo"
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Ítem Efectos de mecanismos institucionales en el precio de la vivienda nueva en Medellín(Universidad EAFIT, 2017-03-01) García, John Jairo; Cossio, Daniel; Mesa, Ricardo; jgarcia@eafit.edu.co; dcossio2@eafit.edu.co; rmesaur@eafit.edu.coWe investigate the mechanisms by which public policy affects the price of new housing in Medellin, Colombia. Using a vector autoregressive structural model we show that shocks to the real cost of credit (UVR) have a highly elastic, short-run negative effect on therealpriceofhousingpersquaremeter. Further,usingasystemofequationsestimated using seemingly unrelated regression (SUR) and three-stage OLS regression, we show that a reduction in the mortgage rate [via subsidies through the Reserve Fund for Stabilization of the Mortgage Portfolio (FRECH)] has a positive impact on the demand for housing, which generates upward pressure on the price of new housing. Through these mechanisms public policy plays a fundamental role in the dynamics of the construction sector.Ítem Los estudios de acontecimiento y la importancia de la metodología utilizada para su estimación(Universidad de Antioquia, 2009) García, John Jairo; Universidad EAFIT, Escuela de Economía y Finanzas, Departamento de Economía, Medellín, Colombia.; Escuela de Economía y Finanzas; Economía; Estudios en Economía y EmpresaÍtem La integración energética de los países nórdicos -Nord Pool-: lecciones para otros mercados(Universidad de Antioquia, 2006) García, John Jairo; Palacios, Carlos Mario; Universidad EAFIT, Escuela de Economía y Finanzas, Departamento de Economía, Medellín, Colombia.; Universidad EAFIT, Escuela de Economía y Finanzas, Departamento de Economía, Medellín, Colombia.; Escuela de Economía y Finanzas; Economía; Estudios en Economía y EmpresaÍtem Spatial effects in the bid price setting strategies of the wholesale electricity markets: The case of Colombia(Universidad EAFIT, 2017-03-03) García, John Jairo; López-Rodriguez, Jésus; Moncada-Mesa, Jhonny; jgarcia@eafit.edu.co; jmoncad7@eafit.edu.coWeather conditions in Colombia vary greatly throughout the territory and therefore the location of electricity generating plants plays a key role in their bid pricing strategies. To account for these location-specific pricing strategies this paper estimates a Spatial Durbin Model (SDM) with monthly data gathered from the 17th largest hydraulic electricity generating plants of Colombia on bid prices, generation, energy inputs and positive reconciliation over the period January 2005-August 2015 and controlling also for the system marginal prices and the economy cycle. The paper reports three main results. First, firms ́ bid prices are negatively affected by the energy inputs of the rivals, second they are unaffected by positive reconciliation payments to the rivals and third they are negatively affected by the generation amounts of the rivals. One potential policy recommendation of these results is the need to implement balancing markets to signal more efficiently the pricing strategies in these markets.