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| Title: | 從消費支出檢視房屋財富效果
Tests of the Housing Wealth Effect from Consumption Expenditure |
| Authors: | 林俞君
Lin, Yu-Chun |
| Contributors: | 陳明吉
林俞君
Lin, Yu-Chun |
| Keywords: | 房屋財富
財富效果
借貸限制
炫耀性消費
Wealth Effect
Housing Wealth
Credit Constrain
Conspicuous Consumption |
| Date: | 2020 |
| Issue Date: | 2020-08-03 17:33:45 (UTC+8) |
| Abstract: | 房屋資產屬於財富的一種，家庭會透過持有房屋作為自身的財富。而家戶所持有的財富會影響其消費決策，過去許多研究多探討房價的變動對不同地區及人口特徵的消費支出之關係。由於台灣擁屋率高，房屋資產占台灣家戶財富之比例亦高，因此本研究主要探討台灣之地區與全國房價的變動是否會帶來房屋財富效果，進而影響家庭消費決策，以及地區房價變動是否會對消費的變動產生地區間的差異性。本文針對台北市、新北市、台中市和高雄市等四大都會區房價與全國房價變動，對不同類型的消費支出進行迴歸實證，使用主計處調查之家庭收支調查資料將消費分為9種不同類型的消費支出，研究年份為1993至2018年。實證發現，在地區房價增加下，台中高雄地區對於大部分類型之消費支出具有正的財富效果、雙北地區則呈現負的財富效果，且雙北地區財富效果顯著低於台中高雄地區，應證地區間的財富效果有所差異。另外，地區的房價變動會使家戶選擇消費於實體能見度高的消費支出，說明房屋的財富效果，會使家庭消費於能見度高且實體可見的消費如衣著服飾，以顯示自身的社經地位。
Housing is regard as a kind of wealth, and households will hold their houses as their own wealth. In addition, the wealth held by households will affect their consumption decisions. The prior literatures have focused on the relationship between changes in housing prices and the consumption expenditures of different regions and cohorts. Taiwan’s home ownership rate is high, and the proportion of housing assets in Taiwan’s household wealth is also high. Therefore, my study mainly discusses whether regionally and nationally changes in housing prices in Taiwan will create housing wealth effects, which will subsequently affect household consumption decisions.
In this thesis, we examine the relationship between the changes in housing prices of four metropolitan areas (Taipei, New Taipei, Taichung and Kaohsiung) and different types of consumption expenditures. We investigate the relationship between changes in national housing prices and different types of consumption expenditures as well. We use Taiwanese survey of family income and expenditure from Taiwan Accounting and Statistics from 1993 to 2018. We find that under the increase in regional housing prices, most types of consumption expenditures in Taichung and Kaohsiung has a positive wealth effect, while the Taipei and New Taipei present a negative wealth effect, and the wealth effect of the Taipei and New Taipei are significantly lower than that of the Taichung and Kaohsiung. In addition, changes in regional housing prices will cause households to choose to spend on high-visibility consumer spending, indicating that the wealth effect on housing asset will allow households to spend on high-visibility and entity-visible consumption such as clothing to show their social and economic status. |
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| Description: | 碩士
國立政治大學
財務管理學系
107357013 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0107357013 |
| Data Type: | thesis |
| DOI: | 10.6814/NCCU202000706 |
| Appears in Collections: | [財務管理學系] 學位論文
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