教育可以累積人力資本,對家庭來說教育可以促進代間流動,因此教育
是一項重要的投資,文獻認為教育支出與家庭背景有很大的相關性。最近
二十年來房價呈現大幅度的波動,房屋資產佔家庭總資產比重很高,家庭
財富可能會受房價波動所影響,進而影響家庭教育支出。本文使用全國家
庭收支調查的家戶橫斷面資料,對比民國 93-94 年 (房價變動較低的時期)
和民國 108-109 年 (房價變動較高的時期) 房價對不同家庭教育支出的影響。
實證結果顯示,自有住宅家庭和青年家庭的平均每人教育支出,會隨房價
上升而增加,而老年家庭的平均每人教育支出,會隨房價上升而減少。本
文以民國 99-109 年的台中市家庭收支調查資料為樣本,建立一個準追蹤資
料,觀察台中市的房價對教育支出影響。實證結果顯示,房價對自有住宅
家庭平均每人教育支出沒有顯著影響;青年家庭和老年家庭的平均每人教
育支出,會隨著房價上升而減少。橫斷面資料和準追蹤資料的實證結果都
顯示,整體而言,房價對平均每人教育支出雖然沒有顯著影響,但是對於
不同家庭的平均每人教育支出則呈現不同的顯著影響效果。

Education is a channel for accumulating stocks of human capital, and it can promote intergenerational mobility for household. The literature suggests that there is a close relationship between education expenditures and family background. Housing prices are highly volatile during the recent decades. Home equity accounts for a high ratio of the total household assets. As a result, the flucruation in housing prices may affect household education expenditures. This study uses cross-sectional household-level data from the Report on The Survey of Family Income and Expenditure to examine the effect of housing prices on education expenditures for
different households in 2004-2005 (a period of lower changes in housing prices) and 2019-2020(a period of higher changes in housing prices). The empirical results show that the average per
capita education expenditure of homeowner households and households with young head would increase as the housing prices rise. However, the average per capita education expenditure of
households with elder head would decrease with the rise in housing prices. This study uses household-level data from the Report on The Survey of Family Income and Expenditure in Taichung City from 2010-2020 as a sample to establish a pseudo-panel data to investigate the impact of Taichung City’s housing prices on education expenditures. The empirical results show that housing prices have no significant impact on the average per capita education expenditure of homeowner households. The average per capita education expenditure of households with young and elder heads would decrease with the rise in housing prices. The empirical results of both the cross-sectional data and pseudo-panel data show that housing prices, in general, have no significant impact on the average per capita education expenditure. However, the housing prices may have significant impact on the average per capita education expenditure for house-
holds with different age levels of household head.

誌謝
摘要 i
ABSTRACT ii
1 前言 1
1.1 房價變動與家庭財富 1
1.2 教育支出 2
2 文獻回顧 8
2.1 財富效果 9
2.2 流動性限制效果 10
3 資料來源與變數說明 11
3.1 資料來源 11
3.2 變數說明 12
3.3 變數敘述統計量 16
4 研究方法 30
4.1 Heckman樣本選擇模型 30
4.2 準追蹤資料Pseudo Panel Data 33
5 實證結果 36
5.1 橫斷面資料 36
5.2 準追蹤資料 39
6 結論與研究建議 51
參考文獻 53

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