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 |
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)
Fingerprint Dive into the research topics of 'Housing market early warning system: The case of Korea'. Together they form a unique fingerprint.
Cite this
Suh, S. H., Kim, K., & Jeon, J. S. (2011). Housing market early warning system: The case of Korea. European Journal of Scientific Research, 56(4), 539-547.