The effect of commuting cost to employment centers on urban property values : a spatial analysis in Bogotá, Colombia
We study the effect that changes of commuting costs to intra urban employment centers may have on property prices in Bogotá, Colombia. To explore the relationship between prices and communing costs, we use a difference in difference spatial model. Parametric and non-parametric estimations suggest a...
- Autores:
-
Carriazo Osorio, Fernando
Peñaranda Mogollón, Alvaro Julián
- Tipo de recurso:
- Work document
- Fecha de publicación:
- 2015
- Institución:
- Universidad de los Andes
- Repositorio:
- Séneca: repositorio Uniandes
- Idioma:
- eng
- OAI Identifier:
- oai:repositorio.uniandes.edu.co:1992/8596
- Acceso en línea:
- http://hdl.handle.net/1992/8596
- Palabra clave:
- Spatial econometrics
Non-parametric methods
Hedonic model
Commuting costs
Desplazamiento de personas - Costos - Bogotá (Colombia)
Espacio en economía
Estadística no paramétrica
Análisis de regresión
C14, C21, R21, R31, R32
- Rights
- openAccess
- License
- http://creativecommons.org/licenses/by-nc-nd/4.0/
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Al consultar y hacer uso de este recurso, está aceptando las condiciones de uso establecidas por los autores.http://creativecommons.org/licenses/by-nc-nd/4.0/info:eu-repo/semantics/openAccesshttp://purl.org/coar/access_right/c_abf2Carriazo Osorio, Fernando0d3379a0-53d8-4b4f-9375-49d13bbb65d8500Peñaranda Mogollón, Alvaro Juliánc15d892e-9afd-4247-a906-a1ec70b6520e5002018-09-27T16:54:48Z2018-09-27T16:54:48Z20151657-5334http://hdl.handle.net/1992/85961657-719110.57784/1992/8596instname:Universidad de los Andesreponame:Repositorio Institucional Sénecarepourl:https://repositorio.uniandes.edu.co/We study the effect that changes of commuting costs to intra urban employment centers may have on property prices in Bogotá, Colombia. To explore the relationship between prices and communing costs, we use a difference in difference spatial model. Parametric and non-parametric estimations suggest a negative and significant impact of commuting costs on property values for dwellings far away from employment centers. The estimated price elasticity with respect to commuting costs for housing located in distant zones, indicates that a 1% increase in fuel price, reduces property values in 1.48%. Nonparametric Geographically Weighted Regression (GWR) showed to outperform traditional Spatial Autoregressive (SAR, SEM) models.Estudiamos el efecto que pueden tener cambios en los costos de desplazamiento del hogar al lugar de trabajo en el valor de las propiedades en Bogotá, Colombia. Para explorar la relación entre precios y costos de desplazamiento, proponemos un modelo espacial de diferencias en diferencias. Estimaciones paramétricas y no paramétricas sugieren un impacto negativo y significativo de los costos de desplazamiento en el valor de las propiedades localizadas en zonas lejanas a centros de empleo. La elasticidad precio con respecto al costo de desplazamiento para propiedades lejanas a centros de empleo, indica que un incremento de 1% en el precio de la gasolina, reduce en promedio el valor de las propiedades en un 1.48%. La regresión no paramétrica con ponderadores de localización (GWR) presentan mejor bondad de ajuste que los modelos tradicionales de rezago espacial autorregresivo (SAR y SEM).35 páginasapplication/pdfengUniversidad de los Andes, Facultad de Economía, CEDEDocumentos CEDE No. 23 Junio de 2015https://ideas.repec.org/p/col/000089/013133.htmlThe effect of commuting cost to employment centers on urban property values : a spatial analysis in Bogotá, ColombiaEl efecto de viajes diarios a centros de empleo en el valor de las viviendas urbanas : un análisis espacial en Bogotá, ColombiaDocumento de trabajoinfo:eu-repo/semantics/workingPaperhttp://purl.org/coar/resource_type/c_8042http://purl.org/coar/version/c_970fb48d4fbd8a85Texthttps://purl.org/redcol/resource_type/WPSpatial econometricsNon-parametric methodsHedonic modelCommuting costsDesplazamiento de personas - Costos - Bogotá (Colombia)Espacio en economíaEstadística no paramétricaAnálisis de regresiónC14, C21, R21, R31, R32Facultad de EconomíaPublicationTHUMBNAILdcede2015-23.pdf.jpgdcede2015-23.pdf.jpgIM Thumbnailimage/jpeg9625https://repositorio.uniandes.edu.co/bitstreams/2b96e854-538a-49b0-9f44-25db63e696f0/download8dec0fe5bda6419456b23819972211efMD55ORIGINALdcede2015-23.pdfdcede2015-23.pdfapplication/pdf611970https://repositorio.uniandes.edu.co/bitstreams/1d2b117c-781f-4cf4-ae93-8dc7a219a409/download87d86ce9546d5324630e6fb369b018c0MD51TEXTdcede2015-23.pdf.txtdcede2015-23.pdf.txtExtracted texttext/plain89626https://repositorio.uniandes.edu.co/bitstreams/67a39f48-c643-403b-af80-69d24ec7de27/downloade43040190901a3a812c4729d7edd1b22MD541992/8596oai:repositorio.uniandes.edu.co:1992/85962024-06-04 15:25:47.864http://creativecommons.org/licenses/by-nc-nd/4.0/open.accesshttps://repositorio.uniandes.edu.coRepositorio institucional Sénecaadminrepositorio@uniandes.edu.co |
| dc.title.none.fl_str_mv |
The effect of commuting cost to employment centers on urban property values : a spatial analysis in Bogotá, Colombia |
| dc.title.alternative.none.fl_str_mv |
El efecto de viajes diarios a centros de empleo en el valor de las viviendas urbanas : un análisis espacial en Bogotá, Colombia |
| title |
The effect of commuting cost to employment centers on urban property values : a spatial analysis in Bogotá, Colombia |
| spellingShingle |
The effect of commuting cost to employment centers on urban property values : a spatial analysis in Bogotá, Colombia Spatial econometrics Non-parametric methods Hedonic model Commuting costs Desplazamiento de personas - Costos - Bogotá (Colombia) Espacio en economía Estadística no paramétrica Análisis de regresión C14, C21, R21, R31, R32 |
| title_short |
The effect of commuting cost to employment centers on urban property values : a spatial analysis in Bogotá, Colombia |
| title_full |
The effect of commuting cost to employment centers on urban property values : a spatial analysis in Bogotá, Colombia |
| title_fullStr |
The effect of commuting cost to employment centers on urban property values : a spatial analysis in Bogotá, Colombia |
| title_full_unstemmed |
The effect of commuting cost to employment centers on urban property values : a spatial analysis in Bogotá, Colombia |
| title_sort |
The effect of commuting cost to employment centers on urban property values : a spatial analysis in Bogotá, Colombia |
| dc.creator.fl_str_mv |
Carriazo Osorio, Fernando Peñaranda Mogollón, Alvaro Julián |
| dc.contributor.author.none.fl_str_mv |
Carriazo Osorio, Fernando Peñaranda Mogollón, Alvaro Julián |
| dc.subject.keyword.none.fl_str_mv |
Spatial econometrics Non-parametric methods Hedonic model Commuting costs |
| topic |
Spatial econometrics Non-parametric methods Hedonic model Commuting costs Desplazamiento de personas - Costos - Bogotá (Colombia) Espacio en economía Estadística no paramétrica Análisis de regresión C14, C21, R21, R31, R32 |
| dc.subject.armarc.none.fl_str_mv |
Desplazamiento de personas - Costos - Bogotá (Colombia) Espacio en economía Estadística no paramétrica Análisis de regresión |
| dc.subject.jel.none.fl_str_mv |
C14, C21, R21, R31, R32 |
| description |
We study the effect that changes of commuting costs to intra urban employment centers may have on property prices in Bogotá, Colombia. To explore the relationship between prices and communing costs, we use a difference in difference spatial model. Parametric and non-parametric estimations suggest a negative and significant impact of commuting costs on property values for dwellings far away from employment centers. The estimated price elasticity with respect to commuting costs for housing located in distant zones, indicates that a 1% increase in fuel price, reduces property values in 1.48%. Nonparametric Geographically Weighted Regression (GWR) showed to outperform traditional Spatial Autoregressive (SAR, SEM) models. |
| publishDate |
2015 |
| dc.date.issued.none.fl_str_mv |
2015 |
| dc.date.accessioned.none.fl_str_mv |
2018-09-27T16:54:48Z |
| dc.date.available.none.fl_str_mv |
2018-09-27T16:54:48Z |
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Documento de trabajo |
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http://purl.org/coar/version/c_970fb48d4fbd8a85 |
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info:eu-repo/semantics/workingPaper |
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http://purl.org/coar/resource_type/c_8042 |
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Text |
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1657-5334 |
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http://hdl.handle.net/1992/8596 |
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1657-7191 |
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10.57784/1992/8596 |
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instname:Universidad de los Andes |
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reponame:Repositorio Institucional Séneca |
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http://hdl.handle.net/1992/8596 |
| dc.language.iso.none.fl_str_mv |
eng |
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eng |
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Documentos CEDE No. 23 Junio de 2015 |
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https://ideas.repec.org/p/col/000089/013133.html |
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openAccess |
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35 páginas |
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application/pdf |
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Universidad de los Andes, Facultad de Economía, CEDE |
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Universidad de los Andes, Facultad de Economía, CEDE |
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