Re-test of the Relationship Among Housing Price,Land Price and Money Supply——With Shaanxi Province as an Example

This paper re-tests the relationship among housing price,land price and money supply in Shannxi province using time series data over the period of 1998-2010.The results indicate clearly that there is a significant reciprocal causation relationship between land price and housing price,besides,money supply has an obvious influence on both house and land price.The paper documents that land price plays an important role in pushing housing price and in turn promotes land price.Therefore,the government should not only launch relevant policies,but also control the money supply in the process of suppressing housing price and land price.