The Effects of Interest Rate Regulation on Real Estate Prices in China
Along with more and more serious real estate bubbles,the regulation on the real estate market is much stronger than ever before.Interest rate is one of important means that used many times to regulate real estate.However, its difficuit to prove that raising interest rate can moderate real estate prices and to assess the impact So the study is benefit to optimize the interest rate policies,to improve the regulatory mechanism,and to promote further development of real estate market.Through having collected quarterly data about real estate market,this paper makes research in the quantitative relationship between interest rate and real estate prices by applying some methods such as co-integration analysis,error-correction model,Granger causality test,impulse response analysis,ARCH model etc. The result shows that:the interest rate in China has a positive correlation with the real estate prices in short term, and has a negative correlation in long term.
Interest Rate Real Estate Price Regulation Effect
Xiaohui Gao Zhen Wang Hao Min
School of Public Economics and Administration,Shanghai University of Finance and Economics Shanghai, School of Public Economics and Aoministration,Shanghai University of Finance and Economics Shanghai,
国际会议
昆明、丽江
英文
694-698
2011-04-15（万方平台首次上网日期，不代表论文的发表时间）