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http://dx.doi.org/10.5762/KAIS.2010.11.6.2038

Estimating the Determinants of Households' Monthly Average Income : A Panel Data Model Approach  

Yi, Hyun-Joo (Deptment of Social Welfare, Soongsil University)
Cheul, Hee-Cheul (Deptment of Industrial Management Engineering, Namseoul University)
Publication Information
Journal of the Korea Academia-Industrial cooperation Society / v.11, no.6, 2010 , pp. 2038-2045 More about this Journal
Abstract
Households' monthly average income is composed of various factors. This study paper studies focuses on estimating the determinants of a households' monthly average income. The region for analysis consist of three groups, that is, the whole country, a metropolitan city(such as Busan, Daegu, Incheon, Gwangiu, Daejeon, Ulsan.) and Seoul. Analyzing period be formed over a 57 time points(2005. 01~2009. 09). In this paper the dependent variable setting up the households' monthly average income, explanatory (independent) variables are composed of the consumer price index, employment to population ratio, Index of housing sale price, the preceding composite index, loans of housing mortgage, spending rate for care medical expense and the composite stock price index. In looking at the factors which determine the monthly average income, evidence was produced supporting the hypothesis that there is a significant positive relationship between the composite index and housing loans. The study also produced evidence supporting the view that there is a significant negative relationship between employment ratios, the house sale pricing index and spending rates for care or medical needs. The study found that the consumer price index and composite stock price index were not significant variables. The implications of these findings are discussed for further research.
Keywords
Random effect model; Fixed effect model; One-Way Error Component Regression Model Households' monthly average income; Panel data;
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Times Cited By KSCI : 3  (Citation Analysis)
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