シム　スンギュ   SIM, Seung-Gyu   沈　承揆    所属   青山学院大学  国際政治経済学部 国際経済学科    職種   教授
言語種別	韓国語
発行・発表の年月	2022/03
形態種別	学術雑誌
査読	査読あり
標題	An Empirical Analysis of Impacts of Income and Wealth on Homeownership
執筆形態	共同
掲載誌名	Korea Real Estate Review
掲載区分	国外
出版社・発行元	Korea real estate research institute
巻・号・頁	32(1),41-54頁
著者・共著者	Jun-Min Lee, Seung-Gyu Sim, and Gihoon Hong
概要	This paper sheds light on the distinct characteristics of freehold and leasehold households in terms of wealth and income. In particular, we exploit the two-stage logit regression analysis to identify the marginal effects of wealth and income separately. Our estimation results reveal that i) the marginal effect of wealth after controlling the wealth effect explained by the income effect significantly improves the freehold probability. However, ii) the marginal effect of income after controlling the income effect explained by the wealth effect significantly lowers the leasehold probability. In other words, the household with additional income that is not explained by its own wealth is less likely to have freehold ownership. The results imply that homeownership relies on wealth disparity rather than income disparity.