서울시 초·중·고등학교 학업성과와 아파트 가격 사이의 상호 작용

The purpose of this paper is to research the relationship between apartments" prices and academic performances of schools. Unlike previous studies, this paper includes not only school performances for high schools but for elementary and middle schools as well. The scope of research encompasses the apartments in the vicinity of schools and not the municipal level. Analyzing the relation between school performances and apartment prices, this study employs the simultaneous equation model through a seemingly unrelated regression (SUR) using relevant data of Seoul from 2010 to 2011. This study finds statistically significant interactions between apartments" prices and school performances. Most importantly, it was found that the performance of middle schools showed the strongest correlation to apartment prices than elementary or high school performances. As for the matriculation rate to Seoul National University (SNU), the effect of the apartments" prices on school performance has more influence than the other way around. Lastly, it was found that cram schools have more of an impact on apartment prices than the matriculation rate to SNU.