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저자정보
(Chosun University) (Chosun University)
저널정보
한국외국어대학교 국제지역연구센터 International Area Studies Review International Area Studies Review Vol.27 No.4
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    초록·키워드

    Since Takáts (2012), which shows that ageing has a negative impact on house prices, numerous papers have been published that either support or do not support this conclusion. We examine the relationship between population ageing and house prices by focusing on the role of credit availability using cross- country unbalanced panel data for the period 1981-2020 for 59 countries. We find that, unlikely to Takáts (2012), the negative effect of ageing on house prices is not confirmed when credit availability is not taken into account, but also could be offset by an increase in the availability of credit. These results suggest that the impact of population ageing may have different effects on house prices depending on the availability of credit in the market. These results suggest that the demographic headwind by population ageing has not realized yet.

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