| Tekijä: | Okumura, T. |
| Otsikko: | Housing investment and residential land supply in Japan: an asset market approach |
| Lehti: | Journal of the Japanese and International Economies
1997 : MAR, VOL. 11:1, p. 27-54 |
| Asiasana: | JAPAN HOUSING |
| Kieli: | eng |
| Tiivistelmä: | This article investigates Japan's market using an equilibrium market approach based on both theoretical and empirical perspectives. An equilibrium model of housing market is developed by combining the consumption capital asset pricing model with the supply functions of housing and residential land as determined by the housing industry. To verify the model's results, the Japanese housing market is subsequently estimated via hansen's generalised method of moments. |
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