범죄율과 교육요인이 주택가격에 미치는 영향에 헤도닉모형과 위계선형모형 비교
The Impacts of Crime Rates and Education Factors on Housing Prices
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This paper analyzes the effect of crime rates and educational environments on housing prices in Seoul, Korea. Generally speaking crime rates impact negatively and educational environments impact positively on housing prices according to empirical evidences of United States. In Korea, empirical evidences are reported that education factors have positive effects on housing prices. This paper takes study methodology with hedonic price model(HPM) and hierarchial linear model(HLM), since the regional variables in HPM have heteroscedasticity and autocorrelation. The results of two models are different in the statistical significance of the coefficient of regional variables, for example population density and ratio of private academy. The main results are as follows. First, the results indicate that there are confusion and difficulties whether property crime rates and violent crime rates have effects on housing prices or not. Second, educational factors impact positively on housing prices. Finally, Careful interpretation is required to study the effect of a certain variables on housing prices as the results of HPM. The findings recommend to use and compare with the results of HLM.
Abstract
This paper analyzes the effect of crime rates and educational environments on housing prices in Seoul, Korea. Generally speaking crime rates impact negatively and educational environments impact positively on housing prices according to empirical evidences of United States. In Korea, empirical evidences are reported that education factors have positive effects on housing prices. This paper takes study methodology with hedonic price model(HPM) and hierarchial linear model(HLM), since the regional variables in HPM have heteroscedasticity and autocorrelation. The results of two models are different in the statistical significance of the coefficient of regional variables, for example population density and ratio of private academy. The main results are as follows. First, the results indicate that there are confusion and difficulties whether property crime rates and violent crime rates have effects on housing prices or not. Second, educational factors impact positively on housing prices. Finally, Careful interpretation is required to study the effect of a certain variables on housing prices as the results of HPM. The findings recommend to use and compare with the results of HLM.
참고문헌 (28)
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