거주주택자산이 자산불평등에 미치는 영향

The Effect of Housing in Asset Inequality

This paper studies the effect of housing in asset inequality based on Korean Household Financial and Welfare Survey from 2012 to 2016. An important goal of our work is to measure the contribution of housing asset to overall asset inequality using Lerman and Yizhaki(1985) method on the Gini coefficient decomposition techniques. This analysis do not demonstrates assertively that the housing asset is found to be the equalizing asset . In detail, firstly relative contribution to the net asset inequality varies and it is in the descending order of other real estate, residential housing asset, savings and valuables. However liabilities influences to reduce the net asset inequality. Secondly, from the aspect of marginal effect, net asset inequality is reduced by residential housing asset, residence deposit, savings and valuables. The study identifies households that do not own their primary residence as a group subject to state support in the form of tax reliefs and more favorable mortgage conditions. In the aspect of marginal effect the study makes apparent that homeownership status can serve as an important identification factor for targeted asset equalization policies.