A Methodology to Compute Regional Housing Index Price using Matching Estimator Methods

This paper proposes a methodology for a spatial cost index of housing that considers spatial heterogeneity in properties across regions. The index is built by combining three different techniques to reduce the spatial heterogeneity in housing: Quasi-experimental methods, hedonic prices and Fisher spatial price index. Using microdata from the Chilean survey CASEN 2006, it is shown that the quasi-experimental method called Mahalanobis metric within propensity score calipers (MMWPS) leads to a significant reduction in the potential bias. The technique matches dwellings of a particular region with other properties of similar characteristics in the benchmark region (Metropolitan region). Once the houses are matched, a hedonic price model is computed, and a regional housing price matrix is created using Fisher spatial price indices. The paper concludes the existence of price differentials for homogeneous houses across regions in Chile.Housing Cost, Index Hedonic Prices Index, Matching Estimator, Spatial Fisher Index

Construction of a Spatial Housing Price Index by Estimating an Almost Ideal Demand System

The aim of this article is to build a spatial housing price index for the Chilean communes (the commune political body similar to a municipality or county). The first step is to recover hedonic prices of three housing attributes by estimating a mixed index model (Bowden, 1992) using a generalized method of moments procedure. Secondly, a censored almost ideal demand system (Deaton and Muellbauer, 1980) is estimated to build expenditures for every commune and to compare them among different spatial units, while maintaining a constant utility level. Using micro data from the 2009 CASEN survey, we show that there are important differences in housing prices among Chilean communes and the axiomatic approach tends to understate spatial index compared to economic approach.spatial housing price index, mixed index, demand system with censored data, economic approach

A Methodology to Compute Regional Housing Index Price using Matching Estimator Methods

This paper proposes a methodology for a spatial cost index of housing that considers spatial heterogeneity in properties across regions. The index is built by combining three different techniques to reduce the spatial heterogeneity in housing: Quasi-experimental methods, hedonic prices and Fisher spatial price index. Using microdata from the Chilean survey CASEN 2006, it is shown that the quasi-experimental method called Mahalanobis metric within propensity score calipers (MMWPS) leads to a significant reduction in the potential bias. The technique matches dwellings of a particular region with other properties of similar characteristics in the benchmark region (Metropolitan region). Once the houses are matched, a hedonic price model is computed, and a regional housing price matrix is created using Fisher spatial price indices. The paper concludes the existence of price differentials for homogeneous houses across regions in Chile

The Impact of Cooperation on Business Innovation in Developing Countries: Evidence from Chile Latin America

There is abundant empirical evidence supporting the relationship between cooperation and innovative entrepreneurial activity, but the conversation continues to be limited to the context of developing countries. This study contributes to the academic debate on this topic with an empirical evaluation of the effect of cooperation networks on innovation, using Chile in Latin America as a case study. Furthermore, while previous studies mainly refer to technological innovations in a particular industrial sector, in this paper we will build an innovation measurement system that incorporates both technological and non-technological activities among diverse industrial sectors. Upon applying cross-sectional data from a national survey on innovation in a developing firm from two different years to a zero-inflated negative binomial regression, we found that a business that reports on cooperation conducts more innovative activities per year compared to one that does not. The type of agent that a business cooperates with is also relevant in this context; other businesses, clients, and consultants showed stronger and more stable results than other types of agents. This evidence is relevant as it presents new information about the importance of the type of agent that a business cooperates with in the context of developing countries

Towards housing policies that consider household’s preferences: estimating the demand for housing attributes in Chile

Understanding household preferences for housing attributes is imperative for developing countries after years of housing policies that failed mostly due to the mismatch between housing solutions and needs. This paper provides income and price elasticity estimates of the demand for housing attributes as an indicator to measure how households perceive housing attributes (necessities or luxuries). These metrics are important because they allow evaluating previously national-level housing policies as well as suggesting new paths of action that are in accordance to households’ preferences. The study focuses on Chile because its influential role in designing housing policies in other developing countries (Gilbert, 2002). Using five cross-section household surveys from 2000–2011, our results suggest that Size and Location are perceived as basic necessities. Contrarily, Quality and Housing Features are considered luxury goods. Size and Location are more price-inelastic than other attributes. These results are consistent across regions, and suggest that households prefer larger and better-located houses

Construction of a Spatial Housing Price Index by Estimating an Almost Ideal Demand System

The aim of this article is to build a spatial housing price index for the Chilean communes (the commune political body similar to a municipality or county). The first step is to recover hedonic prices of three housing attributes by estimating a mixed index model (Bowden, 1992) using a generalized method of moments procedure. Secondly, a censored almost ideal demand system (Deaton and Muellbauer, 1980) is estimated to build expenditures for every commune and to compare them among different spatial units, while maintaining a constant utility level. Using micro data from the 2009 CASEN survey, we show that there are important differences in housing prices among Chilean communes and the axiomatic approach tends to understate spatial index compared to economic approach

Housing supply elasticity: empirical evidence for Bogotá

Despite the literature on urban economics has devoted a lot of attention to analyzing housing demand and its adjustment dynamics across markets, not a similar attention has been given to housing supply. In particular, there is limited knowledge on the way the supply curve would help to understand the urban equilibrium in highly dynamic markets as that of Bogota in Colombia. This article characterizes housing supply by stating the relationship between the value of housing and the price of urban land. We estimate Bogota’s housing supply curve using information available for 2008. Results suggest that market adjustment after demand shocks occurs through quantities

Plan de negocios para muebles de maderas ex?ticas peruanas en Lima Metropolitana

Exotic Home es una propuesta de negocio para Muebles de Maderas Ex?ticas en Lima Metropolitana dirigido al segmento A2 y B1, el cual ofrecer? muebles exclusivos, de calidad y ecol?gicos como una nueva alternativa para el mercado objetivo. Sus colecciones exclusivas de diferentes tipos de madera ex?ticas del Per? ser?n exhibidas en un punto de venta f?sico y puntos virtuales como son la p?gina web y redes sociales. Adem?s, la tienda contar? con un personal de ventas capacitado en el asesoramiento de muebles con estas caracter?sticas. Esta nueva propuesta ofrecer? muebles hechos de madera maciza, lo cual es fuertemente valorado por el p?blico objetivo sobre la melanina y el MDF. Cabe resaltar que la madera ser? de origen controlado y/o certificado, lo cual significa que esta madera proviene de bosques sostenibles donde la tala de ?rboles es legal, controlada y existe trabajo de reforestaci?n. Este atributo ser? de gran importancia para el mercado objetivo, dado que la empresa Exotic Home demostrar? ser socialmente responsable y promotor del cuidado ambiental y ecol?gico de los bosques peruanos

Search for dark matter produced in association with bottom or top quarks in √s = 13 TeV pp collisions with the ATLAS detector

A search for weakly interacting massive particle dark matter produced in association with bottom or top quarks is presented. Final states containing third-generation quarks and miss- ing transverse momentum are considered. The analysis uses 36.1 fb−1 of proton–proton collision data recorded by the ATLAS experiment at √s = 13 TeV in 2015 and 2016. No significant excess of events above the estimated backgrounds is observed. The results are in- terpreted in the framework of simplified models of spin-0 dark-matter mediators. For colour- neutral spin-0 mediators produced in association with top quarks and decaying into a pair of dark-matter particles, mediator masses below 50 GeV are excluded assuming a dark-matter candidate mass of 1 GeV and unitary couplings. For scalar and pseudoscalar mediators produced in association with bottom quarks, the search sets limits on the production cross- section of 300 times the predicted rate for mediators with masses between 10 and 50 GeV and assuming a dark-matter mass of 1 GeV and unitary coupling. Constraints on colour- charged scalar simplified models are also presented. Assuming a dark-matter particle mass of 35 GeV, mediator particles with mass below 1.1 TeV are excluded for couplings yielding a dark-matter relic density consistent with measurements

Global overview of the management of acute cholecystitis during the COVID-19 pandemic (CHOLECOVID study)

Background: This study provides a global overview of the management of patients with acute cholecystitis during the initial phase of the COVID-19 pandemic. Methods: CHOLECOVID is an international, multicentre, observational comparative study of patients admitted to hospital with acute cholecystitis during the COVID-19 pandemic. Data on management were collected for a 2-month study interval coincident with the WHO declaration of the SARS-CoV-2 pandemic and compared with an equivalent pre-pandemic time interval. Mediation analysis examined the influence of SARS-COV-2 infection on 30-day mortality. Results: This study collected data on 9783 patients with acute cholecystitis admitted to 247 hospitals across the world. The pandemic was associated with reduced availability of surgical workforce and operating facilities globally, a significant shift to worse severity of disease, and increased use of conservative management. There was a reduction (both absolute and proportionate) in the number of patients undergoing cholecystectomy from 3095 patients (56.2 per cent) pre-pandemic to 1998 patients (46.2 per cent) during the pandemic but there was no difference in 30-day all-cause mortality after cholecystectomy comparing the pre-pandemic interval with the pandemic (13 patients (0.4 per cent) pre-pandemic to 13 patients (0.6 per cent) pandemic; P = 0.355). In mediation analysis, an admission with acute cholecystitis during the pandemic was associated with a non-significant increased risk of death (OR 1.29, 95 per cent c.i. 0.93 to 1.79, P = 0.121). Conclusion: CHOLECOVID provides a unique overview of the treatment of patients with cholecystitis across the globe during the first months of the SARS-CoV-2 pandemic. The study highlights the need for system resilience in retention of elective surgical activity. Cholecystectomy was associated with a low risk of mortality and deferral of treatment results in an increase in avoidable morbidity that represents the non-COVID cost of this pandemic