of June , the National Council for .. l6 This action was also recommended in CONPES () “Plan de expansidn portuaria. surveys. From through , Colombia’s competitiveness ranking by the World Specifically, CONPES put more emphasis on the. Document CONPES of Document CONPES of De scribe any training or capacity‑building programmes for government officials.
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Forged from a partnership between a university press and a library, Project MUSE is a trusted part of the academic and scholarly community it serves. Clearly, for this design to be valid, one would require that subsidies make a discrete jump at the boundaries while neighborhoods continue to change in a smooth manner at the boundaries. Stratification and Public Utility Services in Colombia: Unobserved variables, for example, would be the provision of public goods at the stratum level or neighborhood characteristics within and across strata.
However, in this case, it is clear that considerations about socioeconomic characteristics of houses, households, and neighborhoods are crucial in determining 0204 boundaries.
Thus the authors argue that it is plausible to expect characteristics of households and neighborhoods to be quite similar at the boundaries. These results might suggest that the stratification Project MUSE promotes the creation and dissemination of essential humanities and social science resources through collaboration with libraries, publishers, conpds scholars worldwide.
Thus in the data one will observe that the higher the subsidy, the lower the price of the house. To deal with this issue, the authors xonpes a type of regression discontinuity design RDD by taking advantage of the stratification system by which households are assigned to one of six socioeconomic strata that are then used to target differential subsidies for public utility services.
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cohpes The basic estimation strategy is to estimate a relatively standard hedonic price model in which public utility subsidies received or paid by a given dwelling have an effect on the price of the house, controlling for a variety of observed characteristics of the house and the neighborhood.
Built on the Johns Hopkins University Campus. Thus, in a sense, the estimation strategy provides the value that individuals place on higher subsidies.
Therefore, one cannot expect these boundaries to perfectly divide fundamentally different neighborhoods. In lieu of an abstract, here is a brief excerpt of the content: From both these perspectives, this paper is an important contribution. Subsidies to Households or Distortion of Housing Prices?
Clearly, from the policy point of view, it seems very important to understand the distortions associated with the cross subsidy system and the specific stratification strategy that guides subsidy assignment. As a result, the estimate of the effect of the subsidy on housing prices could be biased in this particular example, one would expect the estimate to be downwardly biased in a simple OLS ordinary least squares estimation that does not account for 33292 unobserved characteristics of houses and neighborhoods that are also associated with housing prices.
Book titles OR Journal titles. Without cookies your experience conprs not be seamless. The results reported in the paper indicate that, in fact, even for houses located very close to the boundary, at least 50 percent of the observed characteristics of dwellings are statistically significantly different on both sides of the boundary.
Similarly, houses that receive low subsidies or pay contributions are located in higher socioeconomic strata that is, richer neighborhoods and thus are associated with higher prices. Project MUSE Mission Project MUSE promotes the creation and dissemination of essential humanities and social science resources through collaboration with libraries, publishers, and scholars worldwide.
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The critical issue is, then, that all [End Page 87] relevant characteristics pertaining to house, neighborhood, and stratum are not observed or measured. However, one must be aware 32292 the fact that the key assumption of the regression discontinuity design would be plausible in cases in which boundaries are determined according to characteristics uncorrelated with the independent variables in the hedonic price equation and, in particular, 0204 subsidy, which is the variable of interest and the unobserved error term.
In particular, the estimation strategy consists of using strata boundary dummies to account for any unobserved characteristics shared by houses on either side of the boundary. View freely available titles: The key issue dealt with in the paper is the endogeneity of the subsidy in such an equation.
Intuitively, the authors claim that while there is significant heterogeneity across strata and, as expected, homogeneity within stratum the location of the exact boundaries can be arbitrary to a great extent because a very large number of dwellings were assigned to very few groups six in total.
Intuitively, their exercise provides a way of calculating how much more people pay for houses located in areas with higher subsidies for public utilities DPS.