Chapter
Nov 18, 2014
Research on the Effect of the Exchange Rate of RMB on Housing Prices Based on the VAR Model
Publication: ICCREM 2014: Smart Construction and Management in the Context of New Technology
Abstract
The appreciation of RMB and the housing inflation have become two hotly debated topics. The exchange rate of RMB has great influence on housing prices. A study on the impact of the exchange rate on housing prices has both theoretical and practical significance. It can offer solutions for the real estate bubble from a particular angle. This paper conducts a VAR model to study the effect of the exchange rate of RMB and factors relative to housing price with the quarterly data from 2000 to 2012. We make the emperical test by cointegration analysis, granger causality test, impulse response and variance analysis to analye the impact of relative variables. On the basis of the study, this paper puts forward some advice on the perspective of the exchange rate system, changing market expectation and financial regulation to control the real estate bubble.
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ICCREM 2014: Smart Construction and Management in the Context of New Technology
Pages: 1251 - 1259
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© 2014 American Society of Civil Engineers.
History
Published online: Nov 18, 2014
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Postgraduate, Department of Finance, Harbin Institute of Technology, Harbin, China, 150001. E-mail: [email protected]
Professor, Department of Finance, Harbin Institute of Technology, Harbin, China, 150001. 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.