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논문검색

The Impact of the Regional and Urban Economy due to the Transfer of the Capital City to the Daejon․Choongchung Area : Demand for Rental Housing in Daejon with Estimation Issues

원문정보

초록

영어

The purpose of this study is to examine the impact of the new administrative capital transfer on rental housing demand in Daejon, Korea through the estimation of rental housing demand equation. The study focuses on the statistical estimation issues encountered in calibrating rental housing demand: selectivity bias, estimation of hedonic prices, and application of the permanent income hypothesis. The results show a tenant has a higher marginal probability of being a tenant household than of being a homeowner and less demand for housing services after the announcement of the new administrative capital transfer.

목차

Abstract:
 1. Introduction
 2. 8ackground of New Administrative Capital Transfer and Housing Market in Daeion City
  2.1 Background of New Administrative Capital Transfer
  2.2 Housing Market in Daejon City
 3. Model Building with Estimation Issues
  3.1 Sample Selection Bias
  3.2 Estimation 01 Hedonic Prices
  3.3 Computation of Permanent and Transitory Income
 4. Empirical Results
  4.1 Logit Estimation for Tenant Characteristics
  4.2 Estimation of Hedonic Prices
  4.3 Permanent and Transitory Income
  4.4 Demand for Rental Housing Service
 5. Concluding Remarks
 References

저자정보

  • Seon J. Kim Professor, Paichai University
  • Young C. Yoon Assistant Professor, Choongnan University
  • Bum H. Kim Assistant Professor, Paichai University
  • Jeong S. Kim Research Associate, Paichai University
  • Chul H. Lee Research Associate, Paichai University

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