- Volume 23 Issue 3
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Tests for Imbalance between Variations in Metropolis Housing Prices by Regulatory Realty Policies
부동산 규제정책에 따른 광역 주택가격의 변동간 불균형 검정
Kim, Tae-Ho;Ann, Ji-Hee
- Received : 20091200
- Accepted : 20100400
- Published : 2010.06.30
The government real estate policy has repeatedly relaxed and reinforced controls under the mutually contradictory targets. Switching over the supporting policy after the IMF crisis to the regulating policy from 2003, the government housing policy began to generate ill effects due to various regulations. This stud carefully investigates and statistically tests the transmissions of variations in the housing prices between the metropolitan areas in the early stage of the preceding administration, under the effect of the supporting scheme, and those in the late stage, under the effect of the restricting scheme. The distinctive feature between the two periods is found to be much simplified interrelationships of the price variations in the latter period. Consolidated leading role of capital sphere, by concentrated economic strength, suggest the obvious imbalance between variations in the metropolis housing prices.
Long-run trend;stationarity;accumulated response
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