Title :
A Positive Research on the Dynamic Relationship between the Interest Rate and Real Estate Price in China
Author :
He, Jing ; Li, Cunpu
Author_Institution :
Sch. of Manage., Xi´´an Univ. of Archit. & Technol., Xi´´an, China
Abstract :
This article uses the autoregressive distributed lag - Error Correction Model (ARDL-ECM) to analyze the real estate prices and interest rate data from the fourth quarter of 1998 to the first quarter of 2008 .The results show that the interest rate and the real estate prices , in the long run, are negatively related; in the short term, the impact of interest rates on real estate prices lags 2 periods, real estate prices´ effect on itself lags three periods. The results indicate that the impact of interest rates on real estate prices is significant, and its lag on real estate prices has a continuing impact.
Keywords :
autoregressive processes; economic indicators; error correction; pricing; property market; China; autoregressive distributed lag; error correction model; interest rate; real estate price; Economic indicators; Equations; Error correction; Industries; Loans and mortgages; Mathematical model; Testing;
Conference_Titel :
Intelligent Systems and Applications (ISA), 2011 3rd International Workshop on
Conference_Location :
Wuhan
Print_ISBN :
978-1-4244-9855-0
Electronic_ISBN :
978-1-4244-9857-4
DOI :
10.1109/ISA.2011.5873458
