我国货币政策对住宅价格的影响效果分析——基于SVAR模型的实证研究
发布时间：2018-12-12 23:33
【摘要】：本文使用中国2000年至2010年的季度数据,利用SVAR计量模型,深入研究了货币政策对不同类型住宅价格的影响效果。结果显示:第一,利率对住宅价格具有异于寻常的正向冲击作用,提升利率并不能有效抑制房价,这与政策制定者的政策预期以及公众的经验相背离;第二,货币供应量对住宅价格有明显的正向冲击效应,过剩的流动性是推高房价的重要原因,住宅价格调控的基本着力点应当放在货币量的管控上;第三,货币政策对不同类型的住宅价格具有不同的政策效果,差别化的房价调控势在必行。
[Abstract]:Using the quarterly data from 2000 to 2010 in China and using the SVAR model, this paper studies the effect of monetary policy on different types of housing prices. The results show that: first, interest rates have an unusual positive impact on housing prices, raising interest rates can not effectively curb house prices, which is contrary to the policy expectations of policy makers and public experience; Second, the money supply has obvious positive impact effect on the housing price, the excess liquidity is the important reason to push up the house price, the basic focus of the housing price regulation and control should be on the control of the amount of money; Thirdly, monetary policy has different effects on different types of housing prices.
【作者单位】： 北京师范大学经济与工商管理学院;
【分类号】：F293.3;F822.0;F224
[Abstract]:Using the quarterly data from 2000 to 2010 in China and using the SVAR model, this paper studies the effect of monetary policy on different types of housing prices. The results show that: first, interest rates have an unusual positive impact on housing prices, raising interest rates can not effectively curb house prices, which is contrary to the policy expectations of policy makers and public experience; Second, the money supply has obvious positive impact effect on the housing price, the excess liquidity is the important reason to push up the house price, the basic focus of the housing price regulation and control should be on the control of the amount of money; Thirdly, monetary policy has different effects on different types of housing prices.
【作者单位】： 北京师范大学经济与工商管理学院;
【分类号】：F293.3;F822.0;F224
【参考文献】
相关期刊论文 前6条
1 戴国强;张建华;;货币政策的房地产价格传导机制研究[J];财贸经济;2009年12期
2 黄飞雪;王云;;基于SVAR的中国货币政策的房价传导机制[J];当代经济科学;2010年03期
3 沈悦;周奎省;李善q，
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