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소득과 주택자산 소유분포에 관한 연구(A study on the joint distribution of income and housing wealth in Korea)

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  • 소득과 주택자산 소유분포에 관한 연구(A study on the joint distribution of income and housing wealth in Korea)
  • 노영훈; 김현숙
  • 한국조세연구원


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Title 소득과 주택자산 소유분포에 관한 연구(A study on the joint distribution of income and housing wealth in Korea)
Similar Titles
Material Type Reports
Author(Korean)

노영훈; 김현숙

Publisher

서울:한국조세연구원

Date 2005-12
Pages 190
Subject Country South Korea(Asia and Pacific)
Language Korean
File Type Link
Subject Economy < Economic Administration
Holding 한국조세연구원

Abstract

We try to include housing wealth data for households using real estate tax raw data to upgrade the distribution and redistribution of income and wealth research in Korea. We merge two data set ; 1) the year 2003 consumption-income profiles, called the Annual Report on the Household Income and Expenditure Survey from Korea National Statistics Office and 2) the year 2003 taxable housing, building, land value and property taxes for all real estates of Korea from Ministry of Government Administration and Home Affairs to analyze the joint distribution of household income and housing wealth. Based on these joint data of household income-housing wealth of about 8,000 households, we analyze how households determine the ownership of houses and the value of owned houses and the relationship between household income, other characteristics and housing wealth. The main results are ; 1) The inequality of income distribution is mitigated when we calculate more comprehensive income including imputed rent. This implies that high income earners do not always own expensive houses and vice versa, though there is a positive correlation between income and housing wealth. We found more than 10% of top 20% income earners belong to bottom 20% of housing wealth group and about 15% of bottom 20% income earner lines in the top 20% housing wealth group. 2) When we compare age profiles for income and housing wealth, we find that the age of most of highest income earners is late 40s. (The rest omitted)