@article{ART001862471},
author={Imho Kang and Cho Youngjin},
title={The Characteristic of the Capital and Non-capital Apartment Markets Found through Cointegration Tests},
journal={The Korea Spatial Planning Review},
issn={1229-8638},
year={2014},
volume={80},
pages={67-81},
doi={10.15793/kspr.2014.80..005}
TY - JOUR
AU - Imho Kang
AU - Cho Youngjin
TI - The Characteristic of the Capital and Non-capital Apartment Markets Found through Cointegration Tests
JO - The Korea Spatial Planning Review
PY - 2014
VL - 80
IS - null
PB - 국토연구원
SP - 67
EP - 81
SN - 1229-8638
AB - This study aims to analyse the relationship between junse price indexes, between sales price indexes, between junse-sales ratios, and finally between junse and sales prices of Gangnam, Gangbuk, and six metropolitan areas, using cointegration tests considering lagged relationship of variables. The results are summarized as follows. First, junse indexes are strongly cointegrated nationwide. On the other hand, the sales indexes are cointegrated inside the capital and non-capital areas respectively, but not between the two areas. Second, junse-sales ratios are weakly cointegrated between the two areas. Third, junse and price indexes are not cointegrated with each other in the capital areas, but are in the non-capital areas. These findings imply that the nationwide apartment market can be divided into the capital area with unstable sales prices and the non-capital areas with stable sales prices, but generally can be viewed as one market.
KW - Apartment Market;Sales Index;Junse Index;Cointegration;Capital Area;Non-capital Area
DO - 10.15793/kspr.2014.80..005
ER -
Imho Kang and Cho Youngjin. (2014). The Characteristic of the Capital and Non-capital Apartment Markets Found through Cointegration Tests. The Korea Spatial Planning Review, 80, 67-81.
Imho Kang and Cho Youngjin. 2014, "The Characteristic of the Capital and Non-capital Apartment Markets Found through Cointegration Tests", The Korea Spatial Planning Review, vol.80, pp.67-81. Available from: doi:10.15793/kspr.2014.80..005
Imho Kang, Cho Youngjin "The Characteristic of the Capital and Non-capital Apartment Markets Found through Cointegration Tests" The Korea Spatial Planning Review 80 pp.67-81 (2014) : 67.
Imho Kang, Cho Youngjin. The Characteristic of the Capital and Non-capital Apartment Markets Found through Cointegration Tests. 2014; 80 67-81. Available from: doi:10.15793/kspr.2014.80..005
Imho Kang and Cho Youngjin. "The Characteristic of the Capital and Non-capital Apartment Markets Found through Cointegration Tests" The Korea Spatial Planning Review 80(2014) : 67-81.doi: 10.15793/kspr.2014.80..005
Imho Kang; Cho Youngjin. The Characteristic of the Capital and Non-capital Apartment Markets Found through Cointegration Tests. The Korea Spatial Planning Review, 80, 67-81. doi: 10.15793/kspr.2014.80..005
Imho Kang; Cho Youngjin. The Characteristic of the Capital and Non-capital Apartment Markets Found through Cointegration Tests. The Korea Spatial Planning Review. 2014; 80 67-81. doi: 10.15793/kspr.2014.80..005
Imho Kang, Cho Youngjin. The Characteristic of the Capital and Non-capital Apartment Markets Found through Cointegration Tests. 2014; 80 67-81. Available from: doi:10.15793/kspr.2014.80..005
Imho Kang and Cho Youngjin. "The Characteristic of the Capital and Non-capital Apartment Markets Found through Cointegration Tests" The Korea Spatial Planning Review 80(2014) : 67-81.doi: 10.15793/kspr.2014.80..005