Modeling the Korean Chonsei Lease Contract

Real Estate Economics

Volumn 31, Issue 1, 2003, Pages 53-74

  Ambrose, Brent W ^a   Kim, Sunwoong ^b  

^a UNIVERSITY OF KENTUCKY   (United States)

^b UNIVERSITY OF WISCONSIN MILWAUKEE   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0142168947     PISSN: 10808620     EISSN: None     Source Type: Journal    
DOI: 10.1111/j.1080-8620.2003.00057.x     Document Type: Review

References (27)

1. Allen, M.T., R.J. Buttimer and N.G. Waller. 1995. An Examination of the Role of Security Clauses and Deposits in Residential Lease Contracts. Journal of Real Estate Finance and Economics 10(3): 271-284.
2. Ambrose, B.W., P.H. Hendershott and M. Klosek. 2002. Pricing Up ward-Only Adjusting Leases. Journal of Real Estate Finance and Economics 25(1): 33-49.
3. Benjamin, J.D., K.M. Lusht and J.D. Shilling. 1998. What Do Rental Contracts Reveal about Adverse Selection and Moral Hazard in Rental Housing Markets? Real Estate Economics 26(2): 309-330.
4. Benjamin, J.D., J.D. Shilling and C.F. Sirmans. 1992. Security Deposits, Adverse Selection and Office Leases. Journal of the American Real Estate and Urban Economics Association 20: 259-272.
5. Cox, J.C. and S.A. Ross. 1976. The Valuation of Options for Alternative Stochastic Processes. Journal of Financial Economics 3: 145-166.
6. Enders, W. 1995. Applied Econometric Time Series. John Wiley and Sons: New York.
7. Follain, J., G.-C. Lim and B. Renaud. 1980. The Demand for Housing in Developing Countries: The Case of Korea. Journal of Urban Economics 7(3): 315-336.
8. Geske, R. 1979. The Valuation of Compound Options. Journal of Financial Economics 7: 63-81.
9. Grenadier, S.R. 1995a. Flexibility and Tenant Mix in Real Estate Projects. Journal of Urban Economics 38: 357-378.
10. _. 1995b. Valuing Lease Contracts: A Real-Options Approach. Journal of Financial Economics 38(3): 297-331.
11. _. 1996. Leasing and Credit Risk. Journal of Financial Economics 42(3): 333-364.
12. Lim, G.-C., J. Follain and B. Renaud. 1980. Determinants of Home Ownership in a Developing Country: The Case of Korea. Urban Studies 17: 14-23.
13. McConnell, J.J. and J.S. Schallheim. 1983. Valuation of Asset Leasing Contracts. Journal of Financial Economics 12(2): 237-261.
14. Schallheim, J.S. and J.J. McConnell. 1985. A Model for the Determination of "Fair" Premiums on Lease Cancellation Insurance Policies. Journal of Finance 40(5): 1439-1457.
15. Son, J.-Y. 1997. A Review of the Korean Housing Market and Related Policies. Review of Urban and Regional Development Studies 9(1): 80-99.
16. Zorn, P. 1988. An Analysis of Household Mobility and Tenure Choice: An Empirical Study of Korea. Journal of Urban Economics 24(2): 113-128.
17. Chosun Daily Newspaper. January 21, 2001. http://www.chosun.com.
18. Joong-Ang Daily Newspaper. May 30, 2001. http://www.joins.com.
19. Kim, J.-H. and Y.-H. Cho. 1990. The Recent Trends in Sale and Chonsei Price and their Stabilization Policies. Joo Taik Kum Yung 116: 1-15.
20. Kim, J.-I., E-Y. Song and W.-H. Lee. 1998. The Ratio of the Chonsei Deposit to the Sale Price in Seoul Apartment Market and Market Efficiency. Hen Kook Kyung Jei Ei Boon Suk 50-107.
21. Korean Housing Bank. Housing Price Indices. Joo Talk Kum Yung, Quarterly. Seoul, Korea.
22. Korean National Statistical Office. Population and Housing Census. 1975, 1980, 1985, 1990, 1995. http://nso.go.kr.
23. Lee, J.-H. and J.-S. Hur. 1993. A Proposal for Institutionalization of Chonsei Deposit. Joo Taik Kum Yung 121: 1-23.
24. _. 1994. An Evaluation on Chonsei System. Korea Development Institute: Seoul, Korea.
25. Park, W.-A. and K.-Y. Kim. 1993a. Economic Impacts of Chonsei and the Proposal for Its Improvement. Han Kook Kyung Jei Yun Ku 15(1): 87-116.
26. _. 1993b. Economic Impacts of Chonsei and the Proposal for Its Improvement: Errata. Han Kook Kyung Jei Yun Ku 15(2): 181-182.
27. Park, Y.-T. and J.-S. Lee. 1998. The Analysis of 1998 Survey on Housing Finance Demand. Joo Taik Kum Yung 214: 84-106.