Earticle

초록

영어

This study analyzed the relationship condition between asset markets before and after the global financial crisis. As a result of the empirical analysis, there were differences in the market profit rate and decomposition between the stock market and real estate market in the syntonization verification, and accordingly, there was no appearance of syntonization phenomenon. Additionally, as a result of conducting the impulse response analysis, both the stock market and real estate market showed different responses about the shock of financial crisis before and after the occurrence. Moreover, as a result of conducting the variance decomposition, when the before and after conditions of the financial crisis were compared, it was displayed that the condition after the occurrence of the financial crisis caused one to be more influenced by other variables than oneself regarding the prediction error variance. Compared to how the real estate market responded through an 'L' shape regarding external shock before the global financial crisis, it responds with the shape of oblique line with low slope after the occurrence. Furthermore, even in case of the speed of response in consideration shown about the shock, it was much faster before the financial crisis. This phenomenon is assumed as a result of the learning effects displayed after the financial crisis in 1998.

목차

Ⅰ. 서론
 Ⅱ. 선행연구
 Ⅲ. 모형설정
 Ⅳ. 실증분석
 Ⅴ. 결론
 참고문헌
 Abstract

키워드

저자

• 강원철 [ Won-Chul Kang | 고려사이버대학교, 자산관리학부 부교수 ]
• 김원희 [ Won-Hee Kim | 고려사이버대학교, 경영학부 부교수 ]

참고문헌

발행기관

간행물

표지보기 관심저널 등록

• 간행물명

  생산성연구: 국제융합학술지 [Productivity Research: An International Interdisciplinary Journal]

• 간기

  격월간

• pISSN

  1225-3553

• 수록기간

  1987~2025

• 등재여부

  KCI 등재

• 십진분류

  KDC 325 DDC 330