@article{ART003001334},
author={Jinbaek Park},
title={An Empirical Study on the Time-Varying Relationship Between the Housing Sales Market and the Jeonse Market in the Korea},
journal={The Korea Spatial Planning Review},
issn={1229-8638},
year={2023},
volume={118},
pages={3-20},
doi={10.15793/kspr.2023.118..001}
TY - JOUR
AU - Jinbaek Park
TI - An Empirical Study on the Time-Varying Relationship Between the Housing Sales Market and the Jeonse Market in the Korea
JO - The Korea Spatial Planning Review
PY - 2023
VL - 118
IS - null
PB - 국토연구원
SP - 3
EP - 20
SN - 1229-8638
AB - This study analyzed the time-varying relationship between the housing trading market and housing jeonse market.
As a result of the time-varying Granger causality test, the causality of the jeonse price on the sales price was clear in the mid-1990s, and it was analyzed that there was causality after 2010. The causality of the sales price to the jeonse price was observed at some point in the 1990s, but what was commonly observed in all models was analyzed after the 2000s. After 2010, the analysis showed that there was bidirectional causality between the sales price and the jeonse price. As a result of the analysis of the time-varying impulse response function between the sales price and jeonse price, there was confirmation that the shock of the increase in the sales price was generally induced by a reaction to an increase in the jeonse price during the previous period, and that this impact differed depending on the time period. On the other hand, jeonse price leading to increased shocks on sale price was not found before 2000, and while this influence intensified after 2010, there was confirmation that the impact was greatest around 2020.
KW - Housing Sales Price;Jeonse Price;Time-Varying Granger Causality;Time-Varying Impulse Response Function
DO - 10.15793/kspr.2023.118..001
ER -
Jinbaek Park. (2023). An Empirical Study on the Time-Varying Relationship Between the Housing Sales Market and the Jeonse Market in the Korea. The Korea Spatial Planning Review, 118, 3-20.
Jinbaek Park. 2023, "An Empirical Study on the Time-Varying Relationship Between the Housing Sales Market and the Jeonse Market in the Korea", The Korea Spatial Planning Review, vol.118, pp.3-20. Available from: doi:10.15793/kspr.2023.118..001
Jinbaek Park "An Empirical Study on the Time-Varying Relationship Between the Housing Sales Market and the Jeonse Market in the Korea" The Korea Spatial Planning Review 118 pp.3-20 (2023) : 3.
Jinbaek Park. An Empirical Study on the Time-Varying Relationship Between the Housing Sales Market and the Jeonse Market in the Korea. 2023; 118 3-20. Available from: doi:10.15793/kspr.2023.118..001
Jinbaek Park. "An Empirical Study on the Time-Varying Relationship Between the Housing Sales Market and the Jeonse Market in the Korea" The Korea Spatial Planning Review 118(2023) : 3-20.doi: 10.15793/kspr.2023.118..001
Jinbaek Park. An Empirical Study on the Time-Varying Relationship Between the Housing Sales Market and the Jeonse Market in the Korea. The Korea Spatial Planning Review, 118, 3-20. doi: 10.15793/kspr.2023.118..001
Jinbaek Park. An Empirical Study on the Time-Varying Relationship Between the Housing Sales Market and the Jeonse Market in the Korea. The Korea Spatial Planning Review. 2023; 118 3-20. doi: 10.15793/kspr.2023.118..001
Jinbaek Park. An Empirical Study on the Time-Varying Relationship Between the Housing Sales Market and the Jeonse Market in the Korea. 2023; 118 3-20. Available from: doi:10.15793/kspr.2023.118..001
Jinbaek Park. "An Empirical Study on the Time-Varying Relationship Between the Housing Sales Market and the Jeonse Market in the Korea" The Korea Spatial Planning Review 118(2023) : 3-20.doi: 10.15793/kspr.2023.118..001
