Study on the Wealth Effect of Real Estate Price Fluctuation:The Empirical Analysis Based on Provincial Panel Data
LI Yong
Abstract：Based on the panel data of 31 provinces (Municipalities directly under the Central Government, Autonomous Regions),this paper estimates the wealth effect of the real estate industry by using fixed effect variable coefficient model.The study finds that the real estate market has a weak positive wealth effect nationwide,but it is different among the provinces.Negative wealth effect appears in a few provinces,showing that the rising house price has affected the normal growth of consumption.According to the characteristics of different areas in the real estate market,appropriate policy measures should be taken to strengthen the housing wealth effect mechanism and to promote economic transformation and upgrading.
Keywords：real estatewealth effectfixed effect variable coefficient model
Publication Date：2014-01-01
Online Publishing Date：2025-08-15(First online date of this platform, not the publication date of the document)
Pages：7( 39-45 )