Abstract
In the present paper, an early warning system (EWS) for the Korean housing market is constructed. The housing market pressure index is defined as the maximum value of the rates of changes in sales and rental price indexes of the nation and of a specific area. The critical value of HMPI is determined using its mean and standard deviation. With the signal approach model, we find 15 effective leading indicators. Furthermore, the explanatory power of the housing market crisis composite index determined using the leading indicators is satisfactory. Hence, the model developed in the current paper can be used as the EWS of the Korean housing market.
| Original language | English |
|---|---|
| Pages (from-to) | 539-547 |
| Number of pages | 9 |
| Journal | European Journal of Scientific Research |
| Volume | 56 |
| Issue number | 4 |
| Publication status | Published - 2011 Jul |
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All Science Journal Classification (ASJC) codes
- Computer Science(all)
- Mathematics(all)
- Materials Science(all)
- Agricultural and Biological Sciences(all)
- Engineering(all)
- Earth and Planetary Sciences(all)
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Housing market early warning system : The case of Korea. / Suh, Seoung Hwan; Kim, Kabsung; Jeon, Jae Sik.
In: European Journal of Scientific Research, Vol. 56, No. 4, 07.2011, p. 539-547.Research output: Contribution to journal › Article
TY - JOUR
T1 - Housing market early warning system
T2 - The case of Korea
AU - Suh, Seoung Hwan
AU - Kim, Kabsung
AU - Jeon, Jae Sik
PY - 2011/7
Y1 - 2011/7
N2 - In the present paper, an early warning system (EWS) for the Korean housing market is constructed. The housing market pressure index is defined as the maximum value of the rates of changes in sales and rental price indexes of the nation and of a specific area. The critical value of HMPI is determined using its mean and standard deviation. With the signal approach model, we find 15 effective leading indicators. Furthermore, the explanatory power of the housing market crisis composite index determined using the leading indicators is satisfactory. Hence, the model developed in the current paper can be used as the EWS of the Korean housing market.
AB - In the present paper, an early warning system (EWS) for the Korean housing market is constructed. The housing market pressure index is defined as the maximum value of the rates of changes in sales and rental price indexes of the nation and of a specific area. The critical value of HMPI is determined using its mean and standard deviation. With the signal approach model, we find 15 effective leading indicators. Furthermore, the explanatory power of the housing market crisis composite index determined using the leading indicators is satisfactory. Hence, the model developed in the current paper can be used as the EWS of the Korean housing market.
UR - http://www.scopus.com/inward/record.url?scp=79961226223&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=79961226223&partnerID=8YFLogxK
M3 - Article
AN - SCOPUS:79961226223
VL - 56
SP - 539
EP - 547
JO - European Journal of Scientific Research
JF - European Journal of Scientific Research
SN - 1450-202X
IS - 4
ER -