Earticle

초록

영어

The purpose of this study was to analyze the Risk and Cointegration of Housing Reverse Mortgage using VECM. The VECM included such variables as housing pension user, CD interest rate, call interest rate, risk premium, inflation rate using monthly data from July 2007 to June 2011. The major findings are as follows : 1) If the bank supply Housing Reverse Mortgage with CD loans such as short term to offer long term loan such as housing reverse mortgage, it will be faced increasing risks and Housing pension of profit margin was significantly lower than other mortgage loans. 2) Results of Cointegration of Housing Reverse Mortgage showed that there existed a long-run equilibrium. The long-run relation of CD interest rate for key variables influence showed that call interest rate and risk premium were positive impact on CD rate, but inflation rate and user were negatively effect. 3) The results of Impulse response function and error variance decomposition by VECM were found that the relation of CD and call were interact with each other sent and received. in addition, proved a significant relations each other of risk premium and CD rate. We had an opportunity to demonstrate that there existed risks of bank and HP users. If CD interest rate fluctuated, call interest rate would be one of the policy options and it is necessary for stable operation of Housing Reverse Mortgage to require additional policy considerations.

목차

Abstract
 1. 서론
 2. 선행연구의 검토와 대출금리 결정
  2.1. 선행연구의 검토
  2.2. 금융기관 대출금리 결정구조와 주택연금 손익 추정
 3. 분석자료 및 연구방법
  3.1. 자료 및 연구모형의 설정
  3.2. 연구방법
 4. 실증분석
  4.1. 단위근 검정
  4.2. 공적분 검정에 의한 장기균형 추정
  4.3. 충격반응함수
  4.4. 예측오차 분산분해
 5. 결론
 참고문헌

키워드

저자

• 이종의 [ Lee, Jong-Eui | 중앙대학교 산업·창업경영대학원 부동산전공 겸임교수 ] 단독저자

참고문헌

발행기관

간행물

표지보기 관심저널 등록

• 간행물명

  한국지역개발학회지 [Journal of the Korean Regional Development Association]

• 간기

  연5회

• pISSN

  1225-9055

• 수록기간

  1989~2026

• 등재여부

  KCI 등재

• 십진분류

  KDC 322 DDC 330