Proceedings of the 2nd International Conference on Science and Social Research (ICSSR 2013)

Empirical analysis of the effects of monetary policy on house prices——Based on the VECM model

Authors
Wanyu Xiang
Corresponding Author
Wanyu Xiang
Available Online July 2013.
DOI
10.2991/icssr-13.2013.135How to use a DOI?
Keywords
Monetary policy; House prices; Vector error-correction model (VECM)
Abstract

Over these years, China's real estate industry has achieved a rapid development. However, high house prices have become a hidden danger for the economy. Based on previous studies, this article selects three representative variables to build the vector error correction model (VECM) to test the impact of monetary policy on house price fluctuations Empirically. The result shows that there is a long-term stable relationship between monetary policy and house prices, and the monetary policy has a significant impact on house prices. To achieve the objectives of lowering house prices, central bank could combine administrative measures with the appropriate monetary policies.

Copyright
© 2013, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Download article (PDF)

Volume Title
Proceedings of the 2nd International Conference on Science and Social Research (ICSSR 2013)
Series
Advances in Intelligent Systems Research
Publication Date
July 2013
ISBN
978-90-78677-75-8
ISSN
1951-6851
DOI
10.2991/icssr-13.2013.135How to use a DOI?
Copyright
© 2013, the Authors. Published by Atlantis Press.
Open Access
This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Cite this article

TY  - CONF
AU  - Wanyu Xiang
PY  - 2013/07
DA  - 2013/07
TI  - Empirical analysis of the effects of monetary policy on house prices——Based on the VECM model
BT  - Proceedings of the 2nd International Conference on Science and Social Research (ICSSR 2013)
PB  - Atlantis Press
SP  - 583
EP  - 586
SN  - 1951-6851
UR  - https://doi.org/10.2991/icssr-13.2013.135
DO  - 10.2991/icssr-13.2013.135
ID  - Xiang2013/07
ER  -