양도소득세가 부산시 아파트가격에 미치는 영향

양도소득세와 부산시 아파트 가격의 동태적 관계를 분석한다.

This study analyzed dynamic relationship between capital gains taxation and apartment prices in Pusan. I used the VAR(vector-autoregressive) model and yearly data over 1987 to 2008. Also, I implemented the impulse response function analysis and the variance decomposition analysis. The results of the study are as follows ; first, Apartment purchase price is affected largely by apartment purchase price itself. Apartment lease price is affected largely by apartment purchase price. Second, Apartment prices is affected positively(+) by capital gains taxation, then there is not price stabilization effect of capital gains taxation in Pusan.

Third, The unit shock of capital gains taxation explain 16%(14%) of apartment purchase(lease) price fluctuations.