Examinando por Materia "SVAR"
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Ítem Efectos de la UVR en el precio de la vivienda nueva no VIS en Medellín: un modelo estructural de oferta y demanda (2009-2015)(Universidad EAFIT, 2016) Mesa Urhan, Ricardo; García Rendón, John JairoÍtem 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 Effectiveness of Unconventional Monetary Policy on Economic Activity in Colombia During the COVID-19 Crisis(Universidad EAFIT, 2023) Suárez Ramírez, María Antonia; Ballesteros Ruiz, Carlos AndrésÍtem Macroeconomic Effects of Oil Price Fluctuations in Colombia(Universidad EAFIT, 2016-12-02) Quero-Virla, LeonardoÍtem Multiplicador del gasto público productivo en Colombia : un análisis a partir de las metodologías S-VAR y modelos de equilibrio general dinámicos(Universidad EAFIT, 2020) Hurtado Rivera, Isaac; Torres García, AlejandroUsing a SVAR and dynamic general equilibrium model, it is calculated the impact of the productive public spending in GDP, consumption, employment and private investment in Colombia. The results obtained from both methodologies suggest that the public investment multiplier is smaller than unity, as predicts neoclassical theory, but differs in magnitude due to the different assumptions on theorical model and structural characteristics of Colombian economy.