표 6 예금취급기관 주택담보대출과 정책모기지 VARX 모형 분석결과

(1) Privatet (2) Publict (3) Privatet(△+) (4) Privatet(△–) (5) Publict(△+) (6) Publict(△–)
Constant 0.265** (0.105) 1.138*** (0.359) 0.235** (0.115) –0.025 (0.024) 0.998** (0.393) 0.107 (0.094)
Privatet–1 0.389*** (0.098) –0.098 (0.335)
Private(△+)t–1 0.450*** (0.100) 0.062*** (0.021) 0.055 (0.343) 0.053 (0.082)
Private(△–)t–1 –0.172 (0.453) 0.242** (0.096) 0.408 (1.547) –0.049 (0.37)
Publict–1 0.040 (0.031) 0.033 (0.107)
Public(△+)t–1 0.051 (0.034) 0.008 (0.007) 0.120 (0.116) 0.016 (0.028)
Public(△–)t–1 0.026 (0.130) 0.050 (0.027) 0.466 (0.443) 0.032 (0.106)
Hpricet 0.095 (0.111) –0.582 (0.38) 0.067 (0.101) –0.029 (0.021) –0.466 (0.346) 0.084 (0.083)
Spreadt 0.449 (0.416) –0.741 (1.424) 0.490 (0.379) 0.038 (0.08) –0.560 (1.294) 0.057 (0.31)
Incomet –0.004 (0.007) 0.008 (0.023) –0.004 (0.006) –0.001 (0.001) 0.004 (0.021) –0.008 (0.005)
Hpricet–1 –0.079 (0.107) 0.499 (0.364) –0.054 (0.097) 0.026 (0.02) 0.387 (0.330) –0.096 (0.079)
Spreadt–1 –0.673 (0.424) 0.590 (1.448) –0.585 (0.385) 0.087 (0.081) 0.389 (1.313) –0.180 (0.314)
Incomet–1 0.004 (0.006) –0.011 (0.022) 0.003 (0.006) –0.001 (0.001) –0.007 (0.020) –0.002 (0.005)
GFCdum 0.233 (0.193) –0.308 (0.658) 0.184 (0.175) –0.051 (0.037) –0.240 (0.599) 0.010 (0.143)
Observations 117 117 117 117 117 117
R-squared 0.1770 0.0500 0.2210 0.1730 0.0610 0.0710
주 : 1) *, **, ***는 각각 10%, 5%, 1%에서 유의함을 의미함.
2) ( )는 회귀계수의 표준오차(standard error)를 나타냄.