Table 1. Descriptive statistics Whole...

Table 1.

Descriptive statistics

	Whole country	Seoul	Residential	Non-residential
	CD rate	Bond spread	Credit spread	KOSPI return
Panel A: OnBid auction rate (Unit: %)
Mean	75.24	73.11	78.55	57.65
Variance	33.33	81.86	37.16	53.07
Maximum	92.21	104.65	93.52	81.83
Median	75.03	73.12	79.76	57.12
Minimum	57.21	36.84	61.56	34.43
Panel B: Other leading-indicator variables (Unit: %)
Mean	3.02	0.75	5.13	9.37
Variance	1.57	0.35	1.61	409.70
Maximum	6.03	2.88	6.27	64.36
Median	2.79	0.64	5.77	6.71
Minimum	1.34	0.03	2.14	−46.09

	Whole country	Seoul	Residential	Non-residential
	CD rate	Bond spread	Credit spread	KOSPI return
Panel A: OnBid auction rate (Unit: %)
Mean	75.24	73.11	78.55	57.65
Variance	33.33	81.86	37.16	53.07
Maximum	92.21	104.65	93.52	81.83
Median	75.03	73.12	79.76	57.12
Minimum	57.21	36.84	61.56	34.43
Panel B: Other leading-indicator variables (Unit: %)
Mean	3.02	0.75	5.13	9.37
Variance	1.57	0.35	1.61	409.70
Maximum	6.03	2.88	6.27	64.36
Median	2.79	0.64	5.77	6.71
Minimum	1.34	0.03	2.14	−46.09

Notes:

This table reports descriptive statistics of independent variables used in this analysis. The OnBid auction rate (the successful bid rate of the OnBid public auction) is available from the Onbid webpage (www.onbid.co.kr/op/cma/gnrdatamn/generalDataList.do). The other four variables known as leading-indicator variables mentioned in Section 2 can be downloaded from the Economic Statistics System of the Bank of Korea (https://ecos.bok.or.kr/)

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