주택가격 결정요인에 관한 연구

• 영문명: A Study on the Determinants of Housing Prices
• 발행기관: 한국부동산학회
• 저자명: 김봉호(Kim Bong Ho)
• 간행물 정보: 『부동산학보』不動産學報 第32輯, 235~244쪽, 전체 10쪽
• 주제분류: 경제경영 > 경영학
• 파일형태: PDF
• 발행일자: 2008.02.28

영문 초록

  1. CONTENTS
  (1) RESEARCH OBJECTIVES
  The housing price stability policy has been the most important issue in Korea. The purpose of this paper is to trace the determinants of housing price. Defining the determinants of housing price will contribute to the better understanding of structural mechanism of housing price. Based on the empirical analysis, we will search for appropriate policy of housing price stability.
  (2) RESEARCH METHOD
  To analyze the housing price structure, regression, variance decomposition and impulse response analysis are used. Empirical analysis employed the time series data on housing price, real interest rate, expected housing price and land price.
  (3) RESEARCH RESULTS
  The results of this study suggest that the real interest rate and expected housing price are important factors in determining the housing price in Korea. Especially the study finds that real interest rate is more important than expected housing price and land price in determining the housing price.
  2. RESULTS
  The purpose of this study is to explore the cause of housing price instability by analyzing the determinants of housing price. It estimates the equation of housing price using a regression model. It also performs the variance decomposition and impulse response analysis in the VAR model with housing price and real interest rate, expected housing price, and land price variables.
  The empirical results suggest that the housing price is negatively related with interest rate, and is positively related with expected housing price and land price. It is also confirmed that interest rate is the most important factor affecting housing price.

목차

ABSTRACT
Ⅰ. 서론
Ⅱ. 이자율 및 주택 기대가격과 주택가격
Ⅲ. 실증분석
Ⅳ. 결론
參考文獻

키워드

housing price interest rate expected housing price VAR impulse response analysis variance decomposition