Analysis of Real Estate Evaluation from the View Point of Intertemporall and Spatial Economics

Hatta：他估算了由于缓解FAR而导致的交通量增加所导致的东京主要街道拥堵率的增加。利用这一估算，他估算了缓解FAR的成本和收益。综上所述，泡沫是指投资资本集中在有限的区域（如丸之内地区），地价分布的偏斜度随着时间的推移而扩大的现象，是指当有限区域的地价急剧上升时，大部分可用资本投入到有限区域的交易中，最终无法以土地的极端价值进行交易的现象。因此，泡沫的破裂是不可避免的。（3）通过观察地价的基尼系数的时间变化，可以预测泡沫的破裂。竹泽：2005年至2006年，完成了体育设施真实的房地产开发和J-REIT市场的初步实证研究。已发布的“操作属性 ...更多信息 和基金业绩：来自J-REIT市场的初步证据”（与N。Takezawa和H. Saji）在社会科学杂志（ICU）上发表。在澳大利亚和新西兰体育管理协会介绍体育场命名权方面的工作。编制体育设施（体育场、高尔夫球场）和房地产投资信托基金的真实的房地产开发基本数据库。日本房地产投资信托市场受益权的初步调查结果（与N。竹泽，K。Karato：利用GIS多边形开发了1991年至2001年期间的土地利用变化数据。使用这些数据，我们测量了东京中心地区的土地利用的成本效率，通过统计估计的办公室/住房租金函数。通过对土地利用变化规律的观察，验证了惠顿的土地再开发理论，并建立了公寓价格的重复销售数据。估计了真实的房地产市场的质量调整价格指数。针对典型的Case & Shiller型价格指数的计量经济学问题，提出了住房年龄效应系数偏差的计量方法，并将其理论和应用整理成特征方法，分析了真实的房地产价格的微观结构。并提出了土地价格函数空间相关性的空间计量检验方法。少

Hatta: He estimated the increase in the congestion rates of major streets of Tokyo caused by the traffic increase generated by easing FAR Taking advantage of this estimate, he estimated the cost and benefit of easing FAR.Kaizoji: He studies on a mechanism of bursting land bubble. In summary, (i) Bubble is a phenomenon that investment capital concentrates on limited areas (for example, Marunouchi-area), and the skewness of the distribution of land price enlarges over time, (ii) as the land prices in limited areas soar extremely, most of available capital is invested in trade of the limited areas, and finally it is impossible to trade at the extreme value of the land. As an unavoidable result, bubble bursts, and (iii) burst of bubble is predictable by observing the time changes of the Gini coefficient of land prices.Takezawa: Between 2005 and 2006, preliminary empirical research on sports facility real estate development and the J-REIT market completed. Published "Operational Attributes … More and Fund Performance: Preliminary Evidence from the J-REIT Market" (with N. Takezawa and H. Saji) in the Journal of Social Science (ICU). Presented work on Stadium naming rights at the Sports Management Association of Australia and New Zealand.Basic Data base for real estate development in sports facilities (stadiums, golf courses) and REITs compiled. Preliminary findings on the Beneficiary Rights in the Japanese REIT Market (with N. Takezawa, K. Takashima) were presented at the 2007 Nippon Finance Association Conference.Karato: The data of land use variation was developed by GIS polygon for the period from 1991 to 2001. Using this data, we measured cost inefficiency of land use in the central area of Tokyo by means of statistically estimating the office/housing rent function. Patterns of land usage changing was observed, and examining the theorem of land re-development by Wheaton.Repeat sales data of condominiums price was developed. We estimated the quality adjusted price-index in real estate market. We proposed the econometric method for the bias of the housing age-effect coefficients which was pointed out as econometric problem of typical Case & Shiller type price-index.He arranged the theory and application in hedonic approach to analyze the micro structure of real estate price. Moreover we proposed the econometrically testing method to investigate spatial interdependence of land price function by spatial econometric analysis. Less