이주형
2018-09-04T01:17:15Z
2018-09-04T01:17:15Z
2013-06
국토도시공간연구(JOURNAL OF PLANNING AND SPATIAL SCIENCE), Page. 72-78
https://forecasters.org/wp-content/uploads/gravity_forms/7-2a51b93047891f1ec3608bdbd77ca58d/2013/07/Yoon_JaeHo_ISF2013.pdf
https://repository.hanyang.ac.kr/handle/20.500.11754/74744
In order to find out the exact periods of housing bubble burst and the co-movementbetween housing price and the real growth of output in the U.S., this paper adoptsHamilton’s Markov-Switching Model (1989)The findings of this paper are as follows: housing price is procyclical in movementwith the real growth of output during 1970s’, 1980’s, 1990s’ and 2000s’ periods.These results suggest another explanation that when there are extremely large shockssuch as oil shocks, house price is procyclical in movement with the real growth ofoutput, and the procyclical movement occurs in conjunction with big shocks includinghousing bubble bursts in 2000’s periods
en
한양대학교 국토도시개발정책 연구소
Housing bubble burst
real growth of output
co-movement
GDP
Hamilton’s
Markov-Switching Model
regime change
2000’s
The co-movement of housing price and the growth of output
Article
72-78
국토도시공간연구(JOURNAL OF PLANNING AND SPATIAL SCIENCE)
Yoon, Jae Ho
Lee, Joo Hyung
2012216206
S
COLLEGE OF ENGINEERING[S]
DEPARTMENT OF URBAN PLANNING AND ENGINEERING
joo33