Research on the Relationship of House Prices,Real Estate Development Investment and Inflation based on VAR
Li-Hui Wang
Abstract
Li-Hui Wang
Abstract
Qualitatively analyzes the relationships of price of real estate,real estate development investment and the inflation,and,through the stationary test,Granger causality test and the VAR model,makes an empirical analysis on the quarterly data from 2006 to 2011 in Shanxi province.The results show that,both real estate price and inflation are largely affect the real estate development investment;the inflation has more impact on real estate price than real estate development investment;real estate price has more impact on the inflation than real estate development investment.
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Qualitatively analyzes the relationships of price of real estate,real estate development investment and the inflation,and,through the stationary test,Granger causality test and the VAR model,makes an empirical analysis on the quarterly data from 2006 to 2011 in Shanxi province.The results show that,both real estate price and inflation are largely affect the real estate development investment;the inflation has more impact on real estate price than real estate development investment;real estate price has more impact on the inflation than real estate development investment.
Key concepts: Real estate, Capitalization rate, Inflation (cosmology), Economics, Investment (military), Granger causality, Real estate investment trust, Monetary economics