{"id":416,"date":"2020-04-27T17:39:30","date_gmt":"2020-04-27T09:39:30","guid":{"rendered":"http:\/\/localhost:8888\/?p=416"},"modified":"2025-12-24T20:03:47","modified_gmt":"2025-12-24T12:03:47","slug":"using-threshold-estimation-technique-to-measure-housing-wealth-effect-in-different-income-levels","status":"publish","type":"post","link":"https:\/\/www.gssinst.org\/irer\/2020\/04\/27\/using-threshold-estimation-technique-to-measure-housing-wealth-effect-in-different-income-levels\/","title":{"rendered":"Using Threshold Estimation Technique to Measure Housing Wealth Effect in Different Income Levels"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"416\" class=\"elementor elementor-416\" data-elementor-settings=\"[]\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-42d5fb13 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"42d5fb13\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1065a0df\" data-id=\"1065a0df\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-192d2803 elementor-widget elementor-widget-text-editor\" data-id=\"192d2803\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\"><div class=\"article_label\">Article<\/div><p class=\"article_title\">Using Threshold Estimation Technique to Measure Housing Wealth Effect in Different Income Levels<\/p><div><p class=\"title_label_large\">Author<\/p><p class=\"title_label_large\">Start Page \/ End Page<\/p><p class=\"title_label\">Volume<\/p><p class=\"title_label\">Issue Number<\/p><p class=\"title_label\">Year<\/p><p class=\"title_label_large\">Publication<\/p><\/div><div><p><!-- Author \/ StartEndPage \/ Volume \/ IssueNumber \/ Year \/ Publication --><\/p><p class=\"title_text_large\">Jinwoo Jung, Changha Jin<\/p><p class=\"title_text_large\">59 \/ 81<\/p><p class=\"title_text\">22<\/p><p class=\"title_text\">1<\/p><p class=\"title_text\">2019<\/p><p class=\"title_text_large\">International Real Estate Review<\/p><\/div><div class=\"empty\">\u00a0<\/div><p class=\"abstract_label\">Abstract<\/p><p><!-- Abstract Content --><br \/>In this study, we estimate the housing wealth effect of households with different income levels. Since we expect the housing wealth effect to vary based on the different income levels, we use the threshold estimation technique developed in Hansen (1999) instead of imposing an exogenous criterion to divide the sample by income level. This econometric technique is developed for panels with individual-specific fixed effects. Therefore, we apply this econometric method on the findings in the existing literature to estimate the housing wealth effect, while considering the heterogeneity in different income categories. We obtain individual level data from the 2012 to 2016 Korea Household Finance and Welfare Survey (KHFWS) and find statistically significant threshold income levels, thus indicating households show different behaviors based on the threshold income. We provide the groundwork for future research to identify the target group who maximizes their wealth effect, which has housing policy implications.<br \/><br \/><!-- PDF DownloadLink --><\/p><p class=\"download\"><a href=\"http:\/\/www.gssinst.org\/irer\/wp-content\/uploads\/2020\/10\/v22n1-using-threshold-estimation-technique-to-measure-housing-wealth-effect-in-different-income-levels.pdf\"><strong>View PDF -https:\/\/doi.org\/10.53383\/100275<\/strong><\/a><\/p><div class=\"empty\">\u00a0<\/div><p class=\"abstract_label\">Keywords<\/p><p><!-- Keywords --><\/p><p class=\"keywords\">Real Estate; Wealth Effect; Threshold Estimation; Income Levels<\/p><p><a class=\"backpage\">Back to Previous Page<\/a><\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<div>\n<p class=\"title_label_large\">Author<\/p>\n<p class=\"title_label_large\">Start Page \/ End Page<\/p>\n<p class=\"title_label\">Volume<\/p>\n<p class=\"title_label\">Issue Number<\/p>\n<p class=\"title_label\">Year<\/p>\n<p class=\"title_label_large\">Publication<\/p>\n<\/div>\n<div>\n<!-- Author \/ StartEndPage \/ Volume \/ IssueNumber \/ Year \/ Publication --><\/p>\n<p class=\"title_text_large\">Jinwoo Jung, Changha Jin<\/p>\n<p class=\"title_text_large\"> 59 \/ 81<\/p>\n<p class=\"title_text\">22<\/p>\n<p class=\"title_text\">1<\/p>\n<p class=\"title_text\">2019<\/p>\n<p class=\"title_text_large\">International Real Estate Review<\/p>\n<\/div>\n<p class=\"abstract_label mt16\">Keywords<\/p>\n<p class=\"keywords\">Real Estate; Wealth Effect; Threshold Estimation; Income Levels<\/p>\n<p class=\"downloadLine\"><a href=\"https:\/\/www.um.edu.mo\/fba\/irer\/papers\/past\/vol22n1_pdf\/03.pdf\">Download Entire Article.<img src=\"https:\/\/i.ibb.co\/m8rCXNQ\/download-pdf-large.png\" alt=\"download-pdf-large\" border=\"0\"> <\/a><\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"article-template.php","format":"standard","meta":[],"categories":[27,26],"tags":[],"_links":{"self":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/416"}],"collection":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/comments?post=416"}],"version-history":[{"count":3,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/416\/revisions"}],"predecessor-version":[{"id":4743,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/416\/revisions\/4743"}],"wp:attachment":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/media?parent=416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/categories?post=416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/tags?post=416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}