An Empirical Study on the Impacts of Buy-Limit Order on Housing Prices in Chinese Cities: Estimation Based on Difference-in-Difference Model

摘要：

Using China’s 19 major cities’ 2009-2011 panel data, this article measures how the introduction of Buy-Limit Order affects China’s real state market and housing prices. By alternately using responsive flats’ rental data, rental-sale substitution principle is checked, and the result shows that Buy-Limit Order possibly has negative impacts of China’s housing prices’ increase and makes aggregate investment slow down, while it pushes the flats’ rent higher in every sample city and housing part of aggregate consumption. Totally, Buy-Limit Order retards China’s rapid economic growth by 0.3％ around by applying dynamic DID (difference in difference) model.

关键词： buy-limit order housing price rental and sale alternative difference-in-difference model sale support by rental.

作者: Zaici LI Kai LUO

作者单位: School of Management Science and Engineering,Central University of Finance and Economy, Beijing, Chi School of Economics, Central University of Finance and Economy, Beijing, China 100081

会议类型: 国际会议

会议名称: 2011 International Conference on Construction & Real Estate Management(2011建设与房地产管理国际会议)

会议地点: 广州

会议语种:英文

页码: 601-605

在线出版日期: 2011-11-19（万方平台首次上网日期，不代表论文的发表时间）