Do lifelong experiences of land prices affect homeownership in Japan?

IF 1.3 4区经济学 Q3 ECONOMICS

Japan and the World Economy Pub Date : 2025-07-07 DOI:10.1016/j.japwor.2025.101320

Kiichi Tokuoka

引用次数: 0

Abstract

Using Japanese household data, this study tests the hypothesis that experiencing growth in land prices over a lifetime influences homeownership. To test this experience hypothesis, this study calculates the lifelong weighted average of real land price growth while estimating a parameter that determines the shape of the weight function. The study then corroborates the results using US data. The results — using both Japanese and US data — support the hypothesis and are consistent with the belief channel; that is, experiencing price growth affects homeownership by influencing expectations of returns from housing investment.

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在日本，土地价格的终身经历会影响房屋所有权吗？

利用日本家庭数据，本研究检验了一个假设，即在一生中经历土地价格的增长会影响房屋所有权。为了验证这一经验假设，本研究计算了实际土地价格增长的终身加权平均值，同时估计了一个决定权重函数形状的参数。然后，该研究用美国的数据证实了结果。研究结果——使用了日本和美国的数据——支持这一假设，并与信念通道一致；也就是说，经历价格增长通过影响住房投资回报的预期来影响住房拥有率。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Japan and the World Economy ECONOMICS-

CiteScore

2.60

自引率

0.00%

发文量

审稿时长

46 days

期刊介绍： The increase in Japan share of international trade and financial transactions has had a major impact on the world economy in general and on the U.S. economy in particular. The new economic interdependence between Japan and its trading partners created a variety of problems and so raised many issues that require further study. Japan and the World Economy will publish original research in economics, finance, managerial sciences, and marketing that express these concerns.