| Title |
An Analysis on the Influence of CD Interest Rate and Spread on Housing Transaction Index and Jeonse Rental Index |
| Authors |
Kim Eun-Sung ; Lee Sang-Hyo ; Kim Jae-Jun |
| Keywords |
Housing Transaction Index ; Jeonse Rental Index ; CD Interest Rate ; Spread ; VECM(Vector Auto-Regression Model) |
| Abstract |
The purpose of this study is to analyze the casual relationship and the influence of CD interest rate and Spread on Housing Transaction Index and Jeonse Rental Index. Granger Causality Test and VECM are used as a analysis tool. As a result of causal relationship analysis, Spread is shown as the cause variable of Housing Transaction Index, and Housing Transaction Index is shown as that of the CD interest rate. Also, CD interest rate influences Jeonse Rental Index, and Jeonse Rental Index has influence on the other variables. As a result of analysis on the influence on each index, it is discovered that Spread has more and longer-term influence on Housing Transaction Index and Jeonse Rental Index than CD interest rate does. |