Abstrak 
Estimating The Effect Of The 1997 Economic Crisis On The Demand For House Characteristics In Rural Indonesia
Estimating The Effect Of The 1997 Economic Crisis On The Demand For House Characteristics In Rural Indonesia
Yusep Suparman
Universitas Padjadjaran, Proc. ICCS-X, Cairo, Egypt December 20-23, 2009, Vol. 18,
Bahasa Inggris
Universitas Padjadjaran, Proc. ICCS-X, Cairo, Egypt December 20-23, 2009, Vol. 18,
economic crisis effect., exact discrete time model, hedonic price model, panel data, structural equation model
Yusep Suparman
Universitas Padjadjaran, Proc. ICCS-X, Cairo, Egypt December 20-23, 2009, Vol. 18,
Bahasa Inggris
Universitas Padjadjaran, Proc. ICCS-X, Cairo, Egypt December 20-23, 2009, Vol. 18,
economic crisis effect., exact discrete time model, hedonic price model, panel data, structural equation model
In 1997, Indonesia suffered an economic crisis. This crisis had a great impact on the livelihoods in Indonesia. In this paper we estimate the effect of the crisis on demand for house characteristics. We express the demand on house characteristics in terms of willingness to pay, which is elicited from a hedonic price model. To estimate the crisis effect, we adopt a continuous time modeling approach, namely the exact discrete time structural equation model (EDM-SEM), and apply it to a three-wave panel data set of Indonesia Family Life Survey (IFLS). We show that due to the crisis, the average valuation on certain house characteristics is reduced by 46.52%.
Download: .Full Papers