Demand for Rental Housing in Korea with Some Estimation IssuesSource: Journal of Urban Planning and Development:;1995:;Volume ( 121 ):;issue: 002Author:Seon J. Kim
DOI: 10.1061/(ASCE)0733-9488(1995)121:2(57)Publisher: American Society of Civil Engineers
Abstract: The purpose of this study is to estimate the determinants of rental-housing demand for three types of cities in Korea. The study focuses on the statistical estimation issues encountered in calibrating rental-housing demand: selectivity bias, estimation of hedonic prices, application of the permanent income hypothesis, and functional forms of rental housing demand. The procedure for the estimation of the demand function consists of a logit and ordinary least square to address the first three issues. These estimated values are then used as explanatory variables for the final housing-demand function in a two-step procedure. It is shown that these procedures are both practical and suitable for an analysis of the Korean rental housing market.
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contributor author | Seon J. Kim | |
date accessioned | 2017-05-08T21:05:31Z | |
date available | 2017-05-08T21:05:31Z | |
date copyright | June 1995 | |
date issued | 1995 | |
identifier other | %28asce%290733-9488%281995%29121%3A2%2857%29.pdf | |
identifier uri | http://yetl.yabesh.ir/yetl/handle/yetl/38317 | |
description abstract | The purpose of this study is to estimate the determinants of rental-housing demand for three types of cities in Korea. The study focuses on the statistical estimation issues encountered in calibrating rental-housing demand: selectivity bias, estimation of hedonic prices, application of the permanent income hypothesis, and functional forms of rental housing demand. The procedure for the estimation of the demand function consists of a logit and ordinary least square to address the first three issues. These estimated values are then used as explanatory variables for the final housing-demand function in a two-step procedure. It is shown that these procedures are both practical and suitable for an analysis of the Korean rental housing market. | |
publisher | American Society of Civil Engineers | |
title | Demand for Rental Housing in Korea with Some Estimation Issues | |
type | Journal Paper | |
journal volume | 121 | |
journal issue | 2 | |
journal title | Journal of Urban Planning and Development | |
identifier doi | 10.1061/(ASCE)0733-9488(1995)121:2(57) | |
tree | Journal of Urban Planning and Development:;1995:;Volume ( 121 ):;issue: 002 | |
contenttype | Fulltext |