Abstract

GARZA PUENTES, Néstor  and  TOVAR VANEGAS, Rafael. EL MERCADO DE VIVIENDA EN BARRANQUILLA Y EL SECTOR EXTERNO DE LA ECONOMÍA. rev. econ. Caribe [online]. 2009, n.4, pp.181-209. ISSN 2011-2106.

This document deals with a theoretical and empirical approach to the relation between housing prices in Barranquilla and the external sector of the Colombian economy in the period 1990-2005. The free trade must exert a positive impact on prices (valorization) after the specialization and consumption substitution effects attached to it, because of the associated non-tradables valorization with free trade. The analysis allows us to consider that capital account movements are bigger than those referred to the current account, which implies that there should be a relation between housing prices per m² and Real Exchange Rate Index. The result of a more precise assessment of this relation was no conclusive, indeed; particularly if we take into account the geographical aggregation process applied to the information.

Keywords : Real-estate markets; international macroeconomics; international trade.

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