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    Demand for Rental Housing in Korea with Some Estimation Issues

    Source: Journal of Urban Planning and Development:;1995:;Volume ( 121 ):;issue: 002
    Author:
    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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      Demand for Rental Housing in Korea with Some Estimation Issues

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    http://yetl.yabesh.ir/yetl1/handle/yetl/38317
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    contributor authorSeon J. Kim
    date accessioned2017-05-08T21:05:31Z
    date available2017-05-08T21:05:31Z
    date copyrightJune 1995
    date issued1995
    identifier other%28asce%290733-9488%281995%29121%3A2%2857%29.pdf
    identifier urihttp://yetl.yabesh.ir/yetl/handle/yetl/38317
    description abstractThe 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.
    publisherAmerican Society of Civil Engineers
    titleDemand for Rental Housing in Korea with Some Estimation Issues
    typeJournal Paper
    journal volume121
    journal issue2
    journal titleJournal of Urban Planning and Development
    identifier doi10.1061/(ASCE)0733-9488(1995)121:2(57)
    treeJournal of Urban Planning and Development:;1995:;Volume ( 121 ):;issue: 002
    contenttypeFulltext
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