Eres : Digital Library : Works

Paper eres2014_163:
The effects of fertility rates and dependency rates on housing prices

id eres2014_163
authors Peng, Chien-Wen
year 2014
title The effects of fertility rates and dependency rates on housing prices
source 21st Annual European Real Estate Society Conference in Bucharest, Romania
summary Dependency rate is an indicator of demographic structure which usually be used to measure the pressure on productive population. A high dependency ratio can cause serious problems for a country if a large proportion of a government's expenditure is on health, social security and education, which are most used by the youngest and the oldest in a population. Many previous studies found that dependency rate was the main determinant of household saving or wealth accumulation. This study tries further to clarify whether demographic changes, especially dependency rate, affecting housing prices. The empirical results reveal that house price is cointegrated with fertility rate and old dependency rate, respectively. In the long run, an increase of fertility rate increases house price. However, an increase of old dependency rate reduces house price. The expected demographic change in 2015 would be an important signal of housing price change.
series ERES:conference
more &slot=2650
content file.pdf (179,861 bytes)
discussion No discussions. Post discussion ...
session D : Housing Markets & Economics
last changed 2014/10/21 21:51
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