Research on the Relationship between Real Estate Price and Financial Market

被引：0

作者：

Zhang Minli ^{[1
]}

Zhang Bing ^{[1
]}

机构：

[1] Yangzhou Univ, Real Estate Inst, Jiangsu 225009, Peoples R China

来源：

CRIOCM2009: INTERNATIONAL SYMPOSIUM ON ADVANCEMENT OF CONSTRUCTION MANAGEMENT AND REAL ESTATE, VOLS 1-6 | 2009年

关键词：

real estate price; variance decomposition; financial market; impulse response function;

D O I：

暂无

中图分类号：

TU [建筑科学];

学科分类号：

0813 ;

摘要：

Real estate industry is a capital-intensive industry, which is highly dependent on the financial market. In recent years, real-estate industry has enjoyed rapid development in China. Along with the changes of supply-demand relation and financial market in China's real estate market, the relationship structure of the real estate price and financial market changes gradually. The study on the relevant changes of the two markets has an important practical significance for macro-control. The paper makes a dynamic analysis on the real estate price and financial market in China by means of vector autoregression model (VAR), establishes a VAR model respectively according to the data of 2001-2005 and 2006-2008 and initially discusses the structure change of real estate price and financial market during 2001-2008 through analyzing the transfer effect of each financial market impact on real estate price in the two VAR models as well as the contribution degree of each variable in financial market to real estate price by utilizing impulse response function and variance decomposition.

引用

页码：650 / 656

页数：7

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