This paper investigates the structure and composition of the social network formed on the campus ... more This paper investigates the structure and composition of the social network formed on the campus of the Faculty of Economics and Business of Diego Portales University, Chile, exposing a series of characteristics that are aligned with similar research in the field of networks. We use a model of social networks formation in order to understand socioeconomic and academic factors that predict the formation of friendship between two students. Specifically, we test empirically our model, using students' administrative information. Of special interest is the impact of the length of stay of the students in the university, with which we refer to the years completed in the degree course, in the probability of establishing friendship ties where being socioeconomically different is a condition. The mechanism behind a result like this is the sense of belongingness that being part of the same institution may induce amongst students. By means of counterfactual simulations we found evidence in ...
Our aim is to cast light on socioeconomic residential segregation effects on life satisfaction (L... more Our aim is to cast light on socioeconomic residential segregation effects on life satisfaction (LS). In order to test our hypothesis, we use survey data from Chile (Casen) for the years 2011 and 2013. We use the Duncan Index to measure segregation based on income at the municipality level for 324 municipalities. LS is obtained from the CASEN survey, which considers a question about self-reported well-being. Segregation’s impact upon LS is not clear at first glance. On one hand, there is evidence telling that segregation’s consequences are negative due to the spatial concentration of poverty and all the woes related to it. On the other hand, segregation would have positive effects because people may feel stress, unhappiness, and alienation when comparing themselves to better-off households. Additionally, there is previous evidence regarding the fact that people prefer to neighbor people of a similar socioeconomic background. Hence, an empirical test is needed. In order to implement i...
Given the numerous and widely acknowledged benefits of a well-functioning housing market, it is v... more 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.
In the literature on housing market areas, different approaches can be found to defining them, fo... more In the literature on housing market areas, different approaches can be found to defining them, for example, using travel-to-work areas and, more recently, making use of migration data. Here we propose a simple exercise to shed light on which approach performs better. Using regional data from Catalonia, Spain, we have computed housing market areas with both commuting data and migration data. In order to decide which procedure shows superior performance, we have looked at uniformity of prices within areas. The main finding is that commuting algorithms present more homogeneous areas in terms of housing prices. Note: Vicente Royuela acknowledges the support of CICYT SEJ2006-07665 project and the Mobility grant of the Education and Science Ministry Ref PR2005-0253.
The Journal of Real Estate Finance and Economics, 2008
It is a planners' common argument that one of the main sources of vacant land is developers' spec... more It is a planners' common argument that one of the main sources of vacant land is developers' speculation. Consequently, in order to reduce vacant land, it is also a common policy to charge extra taxes to this kind of lots as a way to force development. Using a rich data base from Santiago, Chile, this paper investigates on the determinants of urban vacant land. We find that amongst the most important elements driving unused sites in Santiago are public regulations. Hence, practitioners must be aware about this issue before implement a policy to reduce vacant land because it could have the opposite result. Keywords Urban vacant land • Infill development • Categorical respond model JEL Classifications R14 • C13 • H23
To shed light upon the forces driving Residential Segregation based on income is the aim of the p... more To shed light upon the forces driving Residential Segregation based on income is the aim of the present research. Using a rich micro-database from Santiago of Chile, a transparent methodology has been implemented for understanding the Santiago segregation pattern and the contributions of a set of individuals characteristics in driving it. The analysis has been applied to the years
Literature has identified several negative segregation effects on individuals'well-being. Based o... more Literature has identified several negative segregation effects on individuals'well-being. Based on these findings we propose to study about segregation consequences on educational achievements in Chile. Using an econometric model and the university selection test (PSU) information we have found that segregation has negative impacts.
Given the numerous and widely acknowledged benefits of a well-functioning housing market, it is v... more 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.
This paper investigates the structure and composition of the social network formed on the campus ... more This paper investigates the structure and composition of the social network formed on the campus of the Faculty of Economics and Business of Diego Portales University, Chile, exposing a series of characteristics that are aligned with similar research in the field of networks. We use a model of social networks formation in order to understand socioeconomic and academic factors that predict the formation of friendship between two students. Specifically, we test empirically our model, using students' administrative information. Of special interest is the impact of the length of stay of the students in the university, with which we refer to the years completed in the degree course, in the probability of establishing friendship ties where being socioeconomically different is a condition. The mechanism behind a result like this is the sense of belongingness that being part of the same institution may induce amongst students. By means of counterfactual simulations we found evidence in ...
Our aim is to cast light on socioeconomic residential segregation effects on life satisfaction (L... more Our aim is to cast light on socioeconomic residential segregation effects on life satisfaction (LS). In order to test our hypothesis, we use survey data from Chile (Casen) for the years 2011 and 2013. We use the Duncan Index to measure segregation based on income at the municipality level for 324 municipalities. LS is obtained from the CASEN survey, which considers a question about self-reported well-being. Segregation’s impact upon LS is not clear at first glance. On one hand, there is evidence telling that segregation’s consequences are negative due to the spatial concentration of poverty and all the woes related to it. On the other hand, segregation would have positive effects because people may feel stress, unhappiness, and alienation when comparing themselves to better-off households. Additionally, there is previous evidence regarding the fact that people prefer to neighbor people of a similar socioeconomic background. Hence, an empirical test is needed. In order to implement i...
Given the numerous and widely acknowledged benefits of a well-functioning housing market, it is v... more 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.
In the literature on housing market areas, different approaches can be found to defining them, fo... more In the literature on housing market areas, different approaches can be found to defining them, for example, using travel-to-work areas and, more recently, making use of migration data. Here we propose a simple exercise to shed light on which approach performs better. Using regional data from Catalonia, Spain, we have computed housing market areas with both commuting data and migration data. In order to decide which procedure shows superior performance, we have looked at uniformity of prices within areas. The main finding is that commuting algorithms present more homogeneous areas in terms of housing prices. Note: Vicente Royuela acknowledges the support of CICYT SEJ2006-07665 project and the Mobility grant of the Education and Science Ministry Ref PR2005-0253.
The Journal of Real Estate Finance and Economics, 2008
It is a planners' common argument that one of the main sources of vacant land is developers' spec... more It is a planners' common argument that one of the main sources of vacant land is developers' speculation. Consequently, in order to reduce vacant land, it is also a common policy to charge extra taxes to this kind of lots as a way to force development. Using a rich data base from Santiago, Chile, this paper investigates on the determinants of urban vacant land. We find that amongst the most important elements driving unused sites in Santiago are public regulations. Hence, practitioners must be aware about this issue before implement a policy to reduce vacant land because it could have the opposite result. Keywords Urban vacant land • Infill development • Categorical respond model JEL Classifications R14 • C13 • H23
To shed light upon the forces driving Residential Segregation based on income is the aim of the p... more To shed light upon the forces driving Residential Segregation based on income is the aim of the present research. Using a rich micro-database from Santiago of Chile, a transparent methodology has been implemented for understanding the Santiago segregation pattern and the contributions of a set of individuals characteristics in driving it. The analysis has been applied to the years
Literature has identified several negative segregation effects on individuals'well-being. Based o... more Literature has identified several negative segregation effects on individuals'well-being. Based on these findings we propose to study about segregation consequences on educational achievements in Chile. Using an econometric model and the university selection test (PSU) information we have found that segregation has negative impacts.
Given the numerous and widely acknowledged benefits of a well-functioning housing market, it is v... more 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.
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Papers by Miguel Vargas