Title :
Empirical Study on the Influence of the Rising Housing Price on Resident Consumption
Author :
Yuan, Dong-Mei ; Liu, Jian-jiang ; Yang, Qing
Author_Institution :
Coll. of Econ. & Manage., Hunan Normal Univ., Changsha, China
Abstract :
This paper explored the impact mechanism of the rising housing price on household consumption. The mathematical model of relationship between consumption rate and housing price index was established, based on which a empirical test was studied. The results indicate that there is a long-term reverse co-integration relationship between these two variables, that is, the rising housing price has really being restrained the resident consumption to some extent. Thus it is necessary for government to control the housing price.
Keywords :
domestic appliances; economic indicators; pricing; household consumption; housing price index; housing price rise; long term reverse cointegration relationship; mathematical model; resident consumption; Economics; Educational institutions; Eigenvalues and eigenfunctions; Error correction; Fluctuations; Indexes; Marketing and sales;
Conference_Titel :
Management and Service Science (MASS), 2011 International Conference on
Conference_Location :
Wuhan
Print_ISBN :
978-1-4244-6579-8
DOI :
10.1109/ICMSS.2011.5998436
