貧富差異是否能夠解釋空屋率？ 動態追蹤資料模型的實證分析Can Income Inequality Explain Housing Vacancy Rates? An Empirical Study using a Dynamic Panel Data Model
This paper examines the determinants of housing vacancy rates in Taiwan for the past two decades, paying special attention to the role of income inequality. The data are drawn from the Population and Housing Census, the Real Estate Information Platform, the Statistical Books of Assessed Individual Income Tax Filing Data, the Survey of Family Income and Expenditure, and the Indicators of Municipalities and Counties (Cities) in Taiwan. The empirical methodology is a Dynamic Panel Data Model. The estimation results show that income inequality was indeed associated with higher housing vacancy rates, other factors held constant. Other variables, including the vacancy rates from the previous year, housing stock per capita, the growth rate of housing price, the growth rate of average annual disposable income, unemployment rate, the rate of home ownership, the percentage of employed persons in the agriculture, forestry, fishing, and animal husbandry sector were also significantly associated with the housing vacancy rates.
Key words: vacancy rate, income inequality, dynamic panel data model, Taiwan