고정효과모형을 이용한 지역별 주택위험프리미엄의 추정 및 결정요인에 관한 연구

• 영문명: The Analysis on Estimation and Determinants of Regional Housing Risk Premium using Fixed Effect Model
• 발행기관: 한국주거환경학회
• 저자명: 김순용(Kim, Soon Yong) 전해정(Chun, Hae Jung)
• 간행물 정보: 『주거환경(한국주거환경학회논문집)』住居環境 제17권 제4호 (통권 제46호), 155~166쪽, 전체 12쪽
• 주제분류: 사회과학 > 지역개발
• 파일형태: PDF
• 발행일자: 2019.12.31

영문 초록

This study analyzed the determinants of the regional housing risk premium from January 2011 to October 2018. The analytical model is based on a panel analysis with fixed effects model to capture regional characteristics and missing variables and VAR to estimate regional housing risk premium. The purpose of this study is to quantify the risk premium reflecting market participants expectations and to analyze the real estate market by estimating the relationship with market variables with specific values. The study shows that the housing risk premium is significantly affected by population, the credit rating and loan interest rate. That is, the population over the age of 15 increases, the housing risk premium decrease by 5.4%. If credit spread increases, the housing risk premium increases by 1.29%. Also, if housing loan increases, the housing risk premium increases by 0.022%, and housing mortgage loan increases, the housing risk premium increases by 0.034%.

목차

I. 서 론

II. 선행연구 검토

III. 분석 모형

IV. 실증분석

V. 결론

키워드

임대소득/매매가격 비율 주택위험프리미엄 고정효과모형 금리스프레드 Rent/sale price ratio House risk premium Fixed effect model Interest rate spread