Investigating the Unintended Consequences of the High School Equalization Policy on the Housing Market
Abstract
1. Introduction
2. Materials and Methods
3. Results
3.1. Descriptive Statistics
3.2. Difference in Differences Analysis
4. Discussion
5. Conclusions
Author Contributions
Funding
Acknowledgments
Conflicts of Interest
References
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Treatment Group | Control Group | ||||||||
---|---|---|---|---|---|---|---|---|---|
Mean | SD | Min | Max | Mean | SD | Min | Max | ||
2011 (3Q) | Price per size (KRW 10,000) | 166.54 | 55.78 | 33.45 | 329.45 | 114.14 | 41.39 | 23.57 | 300.2 |
Size (m2) | 75.02 | 29.03 | 19.99 | 244.96 | 60.43 | 20.20 | 15.73 | 166.54 | |
Age(year) | 11.79 | 7.28 | 1.00 | 36.00 | 12.39 | 6.05 | 0.00 | 31.00 | |
Floor | 7.48 | 4.66 | 1.00 | 25.00 | 6.77 | 4.62 | 1.00 | 24.00 | |
Sample Size | 4138 | 1972 | |||||||
2012 (1Q) | Price per size (KRW 10,000) | 154.62 | 56.79 | 33.37 | 328.37 | 127.08 | 53.73 | 25.01 | 296.99 |
Size (m2) | 69.26 | 27.56 | 19.99 | 167.73 | 62.12 | 22.95 | 22.84 | 166.54 | |
Age(year) | 14.38 | 7.02 | 0.00 | 41.00 | 13.21 | 6.56 | 0.00 | 32.00 | |
Floor | 6.98 | 4.49 | 1.00 | 24.00 | 6.94 | 4.44 | 1.00 | 25.00 | |
Sample Size | 3173 | 1544 | |||||||
2012 (3Q) | Price per size (KRW 10,000) | 163.89 | 48.49 | 41.83 | 311.80 | 129.43 | 54.68 | 23.57 | 296.66 |
Size (m2) | 72.71 | 26.39 | 19.99 | 182.85 | 60.06 | 20.67 | 22.23 | 134.78 | |
Age(year) | 12.54 | 7.02 | 0.00 | 41.00 | 12.91 | 7.89 | 0.00 | 32.00 | |
Floor | 7.50 | 4.60 | 1.00 | 23.00 | 6.81 | 4.38 | 1.00 | 20.00 | |
Sample Size | 2098 | 1179 | |||||||
2013 (3Q) | Price per size (KRW 10,000) | 168.49 | 47.80 | 41.81 | 312.35 | 146.05 | 67.44 | 5.21 | 300.07 |
Size (m2) | 72.32 | 25.60 | 19.99 | 167.73 | 61.88 | 22.02 | 22.23 | 166.54 | |
Age(year) | 13.88 | 6.88 | 0.00 | 38.00 | 12.43 | 7.40 | 0.00 | 32.00 | |
Floor | 7.38 | 4.75 | 1.00 | 23.00 | 7.29 | 4.33 | 1.00 | 21.00 | |
Sample Size | 2359 | 1347 |
Model 1 | Model 2 | Model 3 | ||
---|---|---|---|---|
Post-treatment period | Q1, 2012 | Q3, 2012 | Q3, 2013 | |
Sample Size | 10827 | 9387 | 9816 | |
F-statistics | 2035.3 *** | 1934.5 *** | 1803.9 *** | |
R2 | 0.530 | 0.553 | 0.525 | |
Predictors | Constant | 5.205 *** (477.56) | 5.153 *** (483.11) | 5.152 *** (448.96) |
Time | 0.108 *** (11.418) | 0.089 *** (8.945) | 0.165 *** (16.112) | |
HSEP | 0.334 *** (43.458) | 0.337 *** (45.548) | 0.339 *** (42.570) | |
Time × HSEP | −0.092 *** (−7.960) | −0.060 *** (−4.906) | −0.054 *** (−4.222) | |
Floor | 0.076 *** (13.207) | 0.086 *** (14.347) | 0.091 *** (14.429) | |
Age | −0.061 *** (−46.503) | −0.056 *** (−42.714) | −0.053 *** (−38.444) | |
Age2 | 0.001 *** (20.439) | 0.001 *** (18.142) | 0.001 *** (13.812) |
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Cho, G.; Choi, Y.; Kim, J.-H. Investigating the Unintended Consequences of the High School Equalization Policy on the Housing Market. Sustainability 2020, 12, 8496. https://doi.org/10.3390/su12208496
Cho G, Choi Y, Kim J-H. Investigating the Unintended Consequences of the High School Equalization Policy on the Housing Market. Sustainability. 2020; 12(20):8496. https://doi.org/10.3390/su12208496
Chicago/Turabian StyleCho, Gyeongcheol, Younyoung Choi, and Ji-Hyun Kim. 2020. "Investigating the Unintended Consequences of the High School Equalization Policy on the Housing Market" Sustainability 12, no. 20: 8496. https://doi.org/10.3390/su12208496
APA StyleCho, G., Choi, Y., & Kim, J.-H. (2020). Investigating the Unintended Consequences of the High School Equalization Policy on the Housing Market. Sustainability, 12(20), 8496. https://doi.org/10.3390/su12208496