가계 재무건전성이 주택투자수요에 미치는 영향에 관한 연구

• 영문명: A Study on the Financial Strength of Households on House Investment Demand
• 발행기관: 한국유통과학회
• 저자명: 노상윤(Sang-Youn Rho) 윤보현(Bo-Hyun Yoon) 최영민(Young-Min Choi)
• 간행물 정보: 『유통과학연구(JDS)』제12권 제4호, 31~39쪽, 전체 9쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2014.04.30

영문 초록

Purpose – This study investigates the following two issues. First, we attempt to find the important determinants of housing investment and to identify their significance rank using survey panel data. Recently, the expansion of global uncertainty in the real estate market has directly and indirectly influenced the Korean housing market; households demonstrate a sensitive reaction to changes in that market. Therefore, this study aims to draw conclusions from understanding how the impact of financial strength of the household is related to house investment. Second, we attempt to verify the effectiveness of diverse indices of financial strength such as DTI, LTV, and PIR as measures to monitor the housing market. In the continuous housing market recession after the global crisis, the government places top priority on residence stability. However, the government still imposes forceful restraints on indices of financial strength. We believe this study verifies the utility of these regulations when used in the housing market. Research design, data, and methodology – The data source for this study is the “National Survey of Tax and Benefit” from 2007 (1st) to 2011 (5th) by the Korea Institute of Public Finance. Based on this survey data, we use panel data of 3,838 households that have been surveyed continuously for 5 years. We sort the base variables according to relevance of house investment criteria using the decision tree model (DTM), which is the standard decision-making model for data-mining techniques. The DTM method is known as a powerful methodology to identify contributory variables for predictive power. In addition, we analyze how important explanatory variables and the financial strength index of households affect housing investment with the binary logistic multi-regressive model. Based on the analyses, we conclude that the financial strength index has a significant role in house investment demand. Results – The results of this research are

목차

Abstract

1. 서론

2. 자료 및 변수

3. 실증분석

4. 결론

References

키워드

Housing Demand DTI LTV Data Mining Logit Regression