Chapter
Nov 12, 2013
Study on the Transmission Mechanism of China's Monetary Policy in Controlling Real Estate Prices
Publication: ICCREM 2013: Construction and Operation in the Context of Sustainability
Abstract
In recent years, the "failure" of China's monetary policy on controlling the real estate market has raised a problem: Can the real estate market be effectively controlled by the monetary policy? This paper analyzed the mechanism of monetary policy on the real estate prices by the VAR model. The results indicated that the monetary policy will affect real estate prices through interest rates, bank credit and monetary supply. The paper also showed that there're long-term relationships between monetary policy and monetary supply as well as monetary policy and the real estate prices by making Granger test and impulse responses. Based on the fact that monetary policy can control the real estate prices, the paper puts forward to corresponding policies.
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© 2013 American Society of Civil Engineers.
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Published online: Nov 12, 2013
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Professor, Institute of Economics, Xi'an University of Finance and Economics, Xi'an, China, 710100. E-mail: [email protected]
Postgraduate, Institute of Economics, Xi'an University of Finance and Economics, Xi'an, China, 710100. E-mail: [email protected]
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ASCE Library Cards let you download journal articles, proceedings papers, and available book chapters across the entire ASCE Library platform. ASCE Library Cards remain active for 24 months or until all downloads are used. Note: This content will be debited as one download at time of checkout.
Terms of Use: ASCE Library Cards are for individual, personal use only. Reselling, republishing, or forwarding the materials to libraries or reading rooms is prohibited.
Terms of Use: ASCE Library Cards are for individual, personal use only. Reselling, republishing, or forwarding the materials to libraries or reading rooms is prohibited.