An Analysis of Korean House Prices Movements with Asset Pricing Models
Korean house prices have risen rapidly since year 2001 and there have been some worries that the recent house price hikes are too excessive. This paper empirically analyzes the movement of Korean house prices and derives some implications from it, based on three different theoretical asset pricing m...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Korea Development Institute
2007-06-01
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| Series: | KDI Journal of Economic Policy |
| Subjects: | |
| Online Access: | https://doi.org/10.23895/kdijep.2005.29.1117 |
| Summary: | Korean house prices have risen rapidly since year 2001 and there have been some worries that the recent house price hikes are too excessive. This paper empirically analyzes the movement of Korean house prices and derives some implications from it, based on three different theoretical asset pricing models; long-run supply demand model, present value model and general asset pricing model. The results from the analyses show that recent house prices are overall higher than the theoretical prices, thus requiring measures to stabilize house prices hikes. |
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| ISSN: | 2586-2995 2586-4130 |