کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
962230 930004 2007 25 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Saving and housing of Taiwanese households: New evidence from quantile regression analyses
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Saving and housing of Taiwanese households: New evidence from quantile regression analyses
چکیده انگلیسی
Considering the possible heterogeneity of saving propensity of the household, this study estimates Taiwan's household saving functions based on quantile regression, focusing on the effects of housing price appreciation in the late 80s on homeowners and renters over past two decades. The empirical results show that evident heterogeneity exists not only in the marginal propensity to save out of income but also in discouragement effect for renters and wealth effect for homeowners across the conditional distribution of savings. Consequently, housing market boom lowers saving propensity for renters in common while homeowners with higher saving rates show larger wealth effect that lead to the redistribution of social welfare eventually. Based on the estimation of quantile regression, this study is a prelude to the estimation of comprehensive conditional household saving functions. Contribution of this study is to provide new evidence on the heterogeneity of household saving propensity that is different from those presented in the existing literature.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Housing Economics - Volume 16, Issue 2, June 2007, Pages 102-126
نویسندگان
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