Land prices and accessibility to employment centers in Cali: Exploratory analysis with information 2015-2017

Abstract

Accessibility of employment opportunities and variability of land prices represent key ideas of the canonical model of residential location. This article explores the distribution of land prices and the differential accessibility to employment centers and subcenters in Cali. Through some spatial econometric estimates with spillover effects and the calibration of a model of geographical weightings, the non-stationarity of land prices, the parametric variability of the residential segregation, and differential accessibility to employment centers are explored. The estimates suggest, once endogeneity is considered, that segregation and accessibility are significant in explaining the behavior of land prices.