지원사업
학술연구/단체지원/교육 등 연구자 활동을 지속하도록 DBpia가 지원하고 있어요.
커뮤니티
연구자들이 자신의 연구와 전문성을 널리 알리고, 새로운 협력의 기회를 만들 수 있는 네트워킹 공간이에요.
초록· 키워드
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1.CONSENTS (1) RESEARCH OBJESCTIVES Many studies have been sought to understand the volatility patterns of real estate, whereas the study of housing price volatility is relatively little. This study aims to examine the determinants of housing price volatility for the whole country and Seoul area cities, house purchase price, Chonse (rent market)price in Korea.
(2) RESEARCH METHOD It utilizes quarterly data of Seoul and the whole country from 1986:Q2 to 2010:Q2. An Exponential-Generalised Autoregressive Conditional Heteroskedesticity (EGARCH) model is employed to analyse the volatility series of housing prices. Its determinants are also investigated. It also intends to see how housing volatility spreads from city to city by estimating individual city's EGARCH outcome.
(3) RESEARCH RESULTS The results show that the volatility clustering effects(ARCH effect) are found in many capital cities. These findings provide some important insights into the volatility of housing price
2. RESULTS As a result, house price volatilty has affected the unempolyment volatility and income volatility and National house prices, housing prices in Seoul, National rental prices, rental prices in Seoul is appeared significantly in all. Unlike the response of the general shock to the equity market leverage-effect presents that the volatility of housing price to good news is larger than that to bad news.
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