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Interrelation and Stability Test in Korea House Market
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주택매매시장의 상호연관성 및 안정성분석

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Type
Academic journal
Author
Sang Sup Cho (호서대학교) In Am Sung (대전대학교)
Journal
Korean Industrial Economic Association Journal of Industrial Economics and Business Vol.29 No.3 KCI Accredited Journals
Published
2016.6
Pages
1,007 - 1,021 (15page)

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Interrelation and Stability Test in Korea House Market
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This study examines the interrelation and the stability test of the Korean house market in price fluctuations. We estimate joint probability distributions of the home sales price changes, conduct the interrelation analysis based on derived joint probability distributions and evaluate the stabilities of the individual home sales market by measuring the generalized Hurst exponent. We summarize the results of empirical analysis as follows: First, the interrelation of Gangnan home sales market fluctuations and Gangbuk and the interrelation of Gangnan home sales market fluctuations and Incheon home sales market fluctuations are largest, Gwangju and Ulsan home sales market fluctuations showed a lowest interrelation. Second, looking at the time trend analysis of the house market, we find the Busan was interrelated by Gangnam in recent home sales in view point of market volatility. Finally, the home sales markets in Busan, Gwangju and Daejeon showed stability before 2010, and those housing markets were characterized to be unstable markets after 2010.

Contents

Ⅰ. 서론
Ⅱ. 분석방법론
Ⅲ. 실증분석
Ⅳ. 요약 및 시사점
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UCI(KEPA) : I410-ECN-0101-2017-323-000846812