주택금융연구(Housing Finance Research)

About Housing Finance Research

주택금융연구는 한국주택금융공사의 공식학술지로서 주택금융시장, 주택금융정책, 주택금융상품, 주택금융정보기술 등 주택금융과 관련된 학문분야에서 이론적, 실증적, 정책적인 가치를 지니는 전문적이고 창의적인 연구논문들을 게재함으로써, 연구발표의 장과 학문토론의 기회를 제공하고 아울러 주택금융지식의 축적과 교육에도 기여함을 목적으로 합니다.
Article

Jun 30, 2023

Analysis of Determinants of Household Debts in S. Korea: With Focus on the Income Mobility
가계 부채의 결정 요인 분석: 소득계층 변화를 중심으로

Seri Park, GiSeung Kim
박세리, 김기승

Hous. Finance Res. 2023;7(1):5-23.
https://doi.org/10.52344/hfr.2023.7.1.5

This study analyzed the socio-economic determinants of household debts in Korea, using the Survey of Household Finances and Living conditions (2018-2022). During the period, the national household income has been on a steady increase, but was eclipsed by the greater pace of debt increase. In particular, low-income households had a disproportionately high debt-to-income ratio and a debt-to-financial asset ratio. The analysis on the relation between income mobility and debt revealed that households with higher debt-to-income ratio were more likel...
Article

Jun 30, 2023

The Analysis of Regional Leading and Lagging Relations on the House Price Change in S. Korea
주택가격 변화의 지역 간 선·후행관계 분석

Han Ik Jang
장한익

Hous. Finance Res. 2023;7(1):25-66.
https://doi.org/10.52344/hfr.2023.7.1.25

This thesis looked into the regional leading and lagging relations in S. Korea on the house price changes, by using the Wavelet Phase-Difference method. The study found that in general, Seoul and metropolitan cities do have a tendency to lead house price changes, with a caveat that the leading or lagging relations are not fixed but change over time, as pronounced in the recent cases where Seoul’s price leading power has somewhat weakened. In addition, there is a strong positive correlation in the leading and lagging relations among house pric...
Article

Jun 30, 2023

A Comparative Study on a Long-Term Housing Strategy of Developed Countries and Cities
해외 주요국 및 도시의 장기주택계획 비교분석 연구

Sungje Jeon
전성제

Hous. Finance Res. 2023;7(1):67-100.
https://doi.org/10.52344/hfr.2023.7.1.67

The recent housing price spikes and the consequential surge of housing costs have become a policy focus around the globe, prompting many national and city governments to devise long-term housing plans. These plans incorporate mid- to long-term policy measures to alleviate the cost burden and address the housing issue. As the plans are a product of careful deliberation of the governments, their systematic comparative analysis can provide useful implications and ideas in responding to complex housing issues that can also arise in Korea. Despite t...
Article

Jun 30, 2023

Ratio Study to Evaluate the Performance of the Korean Property Tax System: Vertical Equity of Apartment Assessment Price
부동산가격 공시제도 성과평가를 위한 비율분석: 서울시 아파트 공시가격의 수직적 형평성을 중심으로

Su Yeon Jung
정수연

Hous. Finance Res. 2023;7(1):101-130.
https://doi.org/10.52344/hfr.2023.7.1.101

This study examines the concept of ratio study, which is utilized to evaluate the performance of the US property assessment price system. A ratio study was conducted using the 2022 apartment assessment price data in Seoul, Korea. A total of 503,390 apartments in 25 districts of Seoul were analyzed. To conduct the analysis, the 2022 apartment assessment price was matched with the 2021 sales price data for these apartments. The study compares the concept of the US assessment ratio with Korea's realization rate and clarifies that Korea's fair mark...
Article

Jun 30, 2023

Analysis on the Spillover Effect in the Korean Housing Market: With Quantile Spillover Index
한국주택시장에서의 전이효과 분석: 분위별 전이지수 방법 활용

Hee-Un Ko, Sang Hoon Kang
고희운, 강상훈

Hous. Finance Res. 2023;7(1):131-152.
https://doi.org/10.52344/hfr.2023.7.1.131

This paper investigates the regional spillover effect in the Korean housing market, using the spillover Index approach base on the quantile VAR Framework. In order to analyze the spillover effect by economic conditions, the quantile spillover Index was set by dividing the housing market into three categories ; a normal period(quantile q=0.5), a boom period(quantile q=0.95), and a bust period(quantile q=0.05). The results of the empirical analysis are as follows; first, the total spillover effect is greater during a boom period than a bust perio...

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CURRENT ISSUE: Jun 2023, Vol. 7 , No. 1

Article Analysis of Determinants of Household Debts in S. Korea: With Focus on the Income Mobility 가계 부채의 결정 요인 분석: 소득계층 변화를 중심으로 Seri Park, GiSeung Kim 박세리, 김기승 Hous. Finance Res. 2023;7(1):5-23. https://doi.org/10.52344/hfr.2023.7.1.5 HTML PDF PubReader	Article The Analysis of Regional Leading and Lagging Relations on the House Price Change in S. Korea 주택가격 변화의 지역 간 선·후행관계 분석 Han Ik Jang 장한익 Hous. Finance Res. 2023;7(1):25-66. https://doi.org/10.52344/hfr.2023.7.1.25 HTML PDF PubReader
Article A Comparative Study on a Long-Term Housing Strategy of Developed Countries and Cities 해외 주요국 및 도시의 장기주택계획 비교분석 연구 Sungje Jeon 전성제 Hous. Finance Res. 2023;7(1):67-100. https://doi.org/10.52344/hfr.2023.7.1.67 HTML PDF PubReader	Article Ratio Study to Evaluate the Performance of the Korean Property Tax System: Vertical Equity of Apartment Assessment Price 부동산가격 공시제도 성과평가를 위한 비율분석: 서울시 아파트 공시가격의 수직적 형평성을 중심으로 Su Yeon Jung 정수연 Hous. Finance Res. 2023;7(1):101-130. https://doi.org/10.52344/hfr.2023.7.1.101 HTML PDF PubReader
Article Analysis on the Spillover Effect in the Korean Housing Market: With Quantile Spillover Index 한국주택시장에서의 전이효과 분석: 분위별 전이지수 방법 활용 Hee-Un Ko, Sang Hoon Kang 고희운, 강상훈 Hous. Finance Res. 2023;7(1):131-152. https://doi.org/10.52344/hfr.2023.7.1.131 HTML PDF PubReader

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Article The Effect of Base Rate Changes on Initial Yield Spread of Mortgage-Backed Securities in Korea 국내 기준금리 변동이 MBS(Mortgage-Backed Securities) 발행금리에 미치는 영향 Byungkwon Lim, Hyungkeun Kim 임병권, 김형근 Hous. Finance Res. 2022;6(2):51-71. https://doi.org/10.52344/hfr.2022.6.2.51 HTML PDF PubReader Last 3 months views: 330	Article Analysis on Factors of Households’ Microscopic Decision to Join the Reverse Mortgage Loan 주택연금의 미시적 가입 의사결정 요인의 분석 Byung Wook Jun 전병욱 Hous. Finance Res. 2022;6(2):99-122. https://doi.org/10.52344/hfr.2022.6.2.99 HTML PDF PubReader Last 3 months views: 297
Article Analysis of Determinants of Household Debts in S. Korea: With Focus on the Income Mobility 가계 부채의 결정 요인 분석: 소득계층 변화를 중심으로 Seri Park, GiSeung Kim 박세리, 김기승 Hous. Finance Res. 2023;7(1):5-23. https://doi.org/10.52344/hfr.2023.7.1.5 HTML PDF PubReader Last 3 months views: 260	Article Analysis of the Characteristics of the Vulnerable Class of Housing: Focusing on the Residents of the Gosiwon and Small Room 주거취약계층의 특성 분석: 고시원·쪽방 거주자를 중심으로 Hee-Jeong Hong 홍희정 Hous. Finance Res. 2021;5(2):105-133. https://doi.org/10.52344/hfr.2021.5.2.105 HTML PDF PubReader Last 3 months views: 241
Article Return Spillover Effects in Apartment Sales, Chonsei, and Monthly Rent Markets 아파트 매매가격, 전세가격 및 월세가격 간의 수익률 전이효과 Daesung Jung 정대성 Hous. Finance Res. 2022;6(2):123-142. https://doi.org/10.52344/hfr.2022.6.2.123 HTML PDF PubReader Last 3 months views: 220	Article Analysis on the Spillover Effect in the Korean Housing Market: With Quantile Spillover Index 한국주택시장에서의 전이효과 분석: 분위별 전이지수 방법 활용 Hee-Un Ko, Sang Hoon Kang 고희운, 강상훈 Hous. Finance Res. 2023;7(1):131-152. https://doi.org/10.52344/hfr.2023.7.1.131 HTML PDF PubReader Last 3 months views: 219
Article Ratio Study to Evaluate the Performance of the Korean Property Tax System: Vertical Equity of Apartment Assessment Price 부동산가격 공시제도 성과평가를 위한 비율분석: 서울시 아파트 공시가격의 수직적 형평성을 중심으로 Su Yeon Jung 정수연 Hous. Finance Res. 2023;7(1):101-130. https://doi.org/10.52344/hfr.2023.7.1.101 HTML PDF PubReader Last 3 months views: 218	Article A Comparative Study on a Long-Term Housing Strategy of Developed Countries and Cities 해외 주요국 및 도시의 장기주택계획 비교분석 연구 Sungje Jeon 전성제 Hous. Finance Res. 2023;7(1):67-100. https://doi.org/10.52344/hfr.2023.7.1.67 HTML PDF PubReader Last 3 months views: 212

CURRENT ISSUE: Jun 2023, Vol. 7 , No. 1

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2023년도 하반기 주택금융연구 논문 공모 안내