scholarly journals A Dynamic Model of Housing Demand: Estimation and Policy Implications

2010 ◽  
Author(s):  
Patrick Bajari ◽  
Phoebe Chan ◽  
Dirk Krueger ◽  
Daniel Miller
Keyword(s):  
Dynamic Model ◽  
Demand Estimation ◽  
Housing Demand ◽  
Policy Implications

scholarly journals A DYNAMIC MODEL OF HOUSING DEMAND: ESTIMATION AND POLICY IMPLICATIONS*

2013 ◽  
Vol 54 (2) ◽  
pp. 409-442 ◽  
Author(s):  
Patrick Bajari ◽  
Phoebe Chan ◽  
Dirk Krueger ◽  
Daniel Miller
Keyword(s):  
Dynamic Model ◽  
Demand Estimation ◽  
Housing Demand ◽  
Policy Implications

scholarly journals Analysis of Housing Market Dynamics Considering the Structural Characteristics of Mortgage Interest

2021 ◽  
Vol 13 (19) ◽  
pp. 10523
Author(s):  
Insoo Baek ◽  
Sanghyo Lee ◽  
Joosung Lee ◽  
Jaejun Kim
Keyword(s):  
Interest Rate ◽  
Interest Rates ◽  
Housing Market ◽  
Structural Characteristics ◽  
Housing Demand ◽  
Market Mechanism ◽  
Policy Implications ◽  
Mortgage Loan ◽  
Market Mechanisms ◽  
The Government

Mortgage loan interest rates consists of base interest and spread. In general, the base interest is adjusted by the government for the sustainability of the housing market. On the other hand, spread is determined by market mechanisms. Accordingly, the change pattern of base interest and spread may appear differently depending on the market situation. In the end, the effect of the government’s market intervention through interest rate policy may be different than expected. In this respect, the purpose of this paper is to analyze the effects of base interest and spread of the mortgage loan interest rate on the housing market and to derive important policy implications for the sustainability of the housing market. As a result of this study, the ineffectiveness of the government’s interest rate policies on the stability of the housing market was confirmed. The market mechanisms had more significant effects on the sustainability of the housing market than artificial political intervention. Further, housing supply policies based on the market mechanism could be more effective than housing demand policies based on interest-rate adjustments.

International Real Estate Review

2002 ◽  
Vol 5 (1) ◽  
pp. 133-145
Author(s):  
Wen-chieh Wu ◽  
◽  
Sue-Jing Lin ◽  
Keyword(s):  
Standard Error ◽  
Housing Price ◽  
Demand Estimation ◽  
Housing Demand ◽  
Group Effect ◽  
Group Level ◽  
Random Group ◽  
Elasticity Of Demand ◽  
The Us ◽  
Income Elasticity Of Demand

This paper examines the random group effect, which has usually not been considered in traditional housing demand studies. Frequently, group level variables are used in housing demand estimation due to the data constraint. For instance, the US Index of Housing Price per administrative area is often used to measure the housing price when estimating the US price elasticity of demand for housing, and the average household income is often used as a proxy for the individual income in Taiwan when estimating the income elasticity of demand for housing. Econometricians argue that the traditional OLS estimation, when the random group effect is ignored, has been considered to have a downward bias in the estimated standard error. By following Amemiya (1978) and Borjas and Sueyoshi (1994), we propose a two-stage estimation technique to estimate housing demand with the random group effect. Using Taiwan’s cross-sectional survey data, we found that the standard error of the estimated coefficient for the group level income variable is underestimated in the traditional unadjusted OLS specification. This finding suggests that there may be a danger of spurious regression in the traditional OLS housing demand estimation.

Housing Demand Estimation Based on Express Delivery Data

2019 ◽  
Vol 13 (4) ◽  
pp. 1-25
Author(s):  
Qingyang Li ◽  
Zhiwen Yu ◽  
Bin Guo ◽  
Huang Xu ◽  
Xinjiang Lu
Keyword(s):  
Demand Estimation ◽  
Housing Demand ◽  
Express Delivery

Estimation and policy implications of rental housing demand

1984 ◽  
Vol 16 (1) ◽  
pp. 76-90 ◽  
Author(s):  
Allen C. Goodman ◽  
Masahiro Kawai
Keyword(s):  
Rental Housing ◽  
Housing Demand ◽  
Policy Implications

scholarly journals A Dynamic Model of Subprime Mortgage Default: Estimation and Policy Implications

2013 ◽  
Author(s):  
Patrick Bajari ◽  
Chenghuan Sean Chu ◽  
Denis Nekipelov ◽  
Minjung Park
Keyword(s):  
Dynamic Model ◽  
Policy Implications ◽  
Mortgage Default ◽  
Subprime Mortgage
Sign in / Sign up

Export Citation Format

Share Document