2014, Vol.82, No.

The Korea Spatial Planning Review 2023 KCI Impact Factor : 1.2

pISSN : 1229-8638
https://journal.kci.go.kr/krihs

This study examines spillover effects of apartment housing prices across seven large cities in Korea. Unlike the previous studies, we measure total spillover index, directional spillovers, and net spillovers in a systematic and comprehensive way under the generalized forecast error variance decomposition framework which is invariant to the variable ordering. The empirical results show that over 50% of total variability of apartment housing prices are explained by the spillover effects, suggesting that the apartment housing market is fairly interconnected across regions. The subsample results and the rolling regression analysis show that the direction of spillover has changed. In the 1986-1999 sample period, the spillovers from non-capital regions appear to be stronger, while the spillovers within the capital area and the spillovers from capital area to non-capital area have increased since 2000.

This study aims to figure out the geographical distribution and social cognition of landscape attractions of Seoul in Joseon Dynasty through old cultural media such as ‘Eight Scenery Poems’, ‘True-View Landscape Paintings’ and ‘Folklore Literatures’. In the ‘Eight Scenery Poems’, while the people in earlier period depicted the institutional places with ‘regional representing mode’, people gradually changed their views to Han River with ‘panoramic viewing mode’. In the ‘True-View Landscape Painting’ of the latter period, ‘Eight Sceneries of Jangdong’ and ‘Scenic Beauties of Seoul and its Vicinity’ became the visual evidences of townscapes. While the former depicted the memorial sites of Seoul in the similar manner of ‘the regional mode’, the latter depicted the Han River view in ‘the panoramic mode’. In the ‘Folklore Literatures’ including ‘Hanyangga’, the downtown with marketplaces were introduced as the new lively landscape attractions of Seoul, got more social cognition of the common people finally.

In analyzing the travel demand in toll road, it is necessary to convert toll to travel time using the value of travel time, in which the value of time is calculated by Marginal Wage Rate Rule. The value of travel time by Marginal Wage Rate, however, could not completely reflect one’s willingness to pay and could be varied by travel distance, travel purpose and income level. The analysis using identical values can be generated a bias in demand forecasting of toll road. This study estimates the value of travel time by travel distance, travel purpose and income level to improve reliability of demand forecast using Stated Preference data in Umyun Mt. Toll Tunnel. Moreover, it is concluded the value of time in toll road is relatively lower than existing value of time because the existing value of time includes indirect cost of 30% in addition to wage.