Does Monetary Policy Have Significant Impact on Housing Prices Evidence from Principal Component Analysis
Tian-Li Lei, Gang Wu, Dong-Ping Wei
Available Online June 2014.
- https://doi.org/10.2991/msmi-14.2014.55How to use a DOI?
- Monetary policy, Housing prices, Principal component analysis.
- We construct a housing price model based on supply and demand equilibrium, and use principal component analysis to avoid multicollinearity of independent variables. Empirical analysis of China’s 35 big-to-medium sized cities average data shows that housing price expectation is the key factor for housing price increase. The impact elasticity of housing price expectation and GDP are 0.46 and 0.08 respectively, while the elasticity of mortgage loan and money supply are between 0.08 and 0.1. It also shows that China’s macro control policy is nearly invalid.
- Open Access
- This is an open access article distributed under the CC BY-NC license.
Cite this article
TY - CONF AU - Tian-Li Lei AU - Gang Wu AU - Dong-Ping Wei PY - 2014/06 DA - 2014/06 TI - Does Monetary Policy Have Significant Impact on Housing Prices Evidence from Principal Component Analysis BT - 2014 International Conference on Management Science and Management Innovation (MSMI 2014) PB - Atlantis Press SP - 299 EP - 303 SN - 2352-5428 UR - https://doi.org/10.2991/msmi-14.2014.55 DO - https://doi.org/10.2991/msmi-14.2014.55 ID - Lei2014/06 ER -