| Budget Amount *help |
¥4,550,000 (Direct Cost: ¥3,500,000、Indirect Cost: ¥1,050,000)
Fiscal Year 2017: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2016: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2015: ¥1,950,000 (Direct Cost: ¥1,500,000、Indirect Cost: ¥450,000)
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| Outline of Final Research Achievements |
Firstly we developed various indices expressing market trends in the real estate and financial markets and verify their effectiveness. In the real estate market, we estimate the real estate / rent indices based on the hedonic approach for commercial real estate transaction data and real estate lease data in 23 wards of Tokyo. We also have made a return index that depicts the yield of the real estate investment for office buildings in the center of Tokyo and have verified the effectiveness of our index.
Secondly, in terms of the financial market, we can observe that the spread curve of the sovereign CDS at the time of the crisis is frequently reversed in long and short, so we have developed a distribution free index based on the spread curve of the sovereign CDS expressing sovereign risk.
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