비선형 Mankiw-Weil 주택수요 모형 - 수도권 지역을 대상으로 -
Non-Linear Mankiw-Weil Model on Housing Demand - The Case of Seoul Metropolitan Area -
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초록
Recently, Korean housing market faces demographic changes including small or aged household increase and population growth slowdown. The demographic changes lead researchers to analyze relationships between demographic changes and housing demand. The researches chiefly estimate a modified version of the Mankiw-Weil model(1989). However, rare attention in previous researches has been directed at theoretical model form and estimation method. In this paper, we estimate a Non-Linear version of the Mankiw-Weil model corresponding to theoretical form and develop a modified Mankiw-Weil model incorporating housing demand factors such as income, housing cost, household type,household size and housing tenure. This paper suggests that Non-Linear estimator is useful to extend Mankiw-Weil model and analyzes how does housing demand vary corresponding to age structure, income, cost, household type, and housing tenure.
Abstract
Recently, Korean housing market faces demographic changes including small or aged household increase and population growth slowdown. The demographic changes lead researchers to analyze relationships between demographic changes and housing demand. The researches chiefly estimate a modified version of the Mankiw-Weil model(1989). However, rare attention in previous researches has been directed at theoretical model form and estimation method. In this paper, we estimate a Non-Linear version of the Mankiw-Weil model corresponding to theoretical form and develop a modified Mankiw-Weil model incorporating housing demand factors such as income, housing cost, household type,household size and housing tenure. This paper suggests that Non-Linear estimator is useful to extend Mankiw-Weil model and analyzes how does housing demand vary corresponding to age structure, income, cost, household type, and housing tenure.
참고문헌 (19)
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