Analysis and Measure of Real Estate Bubble Based on Wealth Effect

摘要：

Real estate bubble is a vulnerable economic phenomenon in the countries on the stage of rapid economic development. Once happen, the event will undermine the macroeconomic environment. So it is necessary to re-recognize the essence and determining method of real estate bubble from the view of economics. This paper attempts to analyze the internal mechanism of real estate bubble basing on wealth effect, and study the effect of consumers demand for real estate on real estate price. A new index, real estate consumption rate, is presented by which real estate bubble can be measured, and whose scope is calculated through experience. In the end, based on the relevant data of Chinas real estate supply and demand in recent years, Chinas real estate price is analyzed according to wealth effect, and the level of Chinas real estate bubble is measured.

关键词： real estate bubble wealth effect measure indez

作者: CUI Mingxin

作者单位: School of Economics and Management, Daqing Petroleum Institute, Daqing, China

会议类型: 国际会议

会议名称: 2009 International Conference on Construction & Real Estate Management(2009建设与房地产管理国际会议)

会议地点: 北京

会议语种:英文

页码: 913-916

在线出版日期: 2009-11-05（万方平台首次上网日期，不代表论文的发表时间）