股价、房价对消费行为的影响  

The Impact of changes in stock prices and house prices on consumption

作　　者：赵晓力[1] 马辉[1] 陈守东[1] 

机构地区：[1]吉林大学数量经济研究中心,吉林长春130012

出　　处：《广州大学学报（社会科学版）》2007年第3期48-53,共6页Journal of Guangzhou University:Social Science Edition

基　　金：国家社会科学基金项目(06JY010);教育部重大项目(05JJD790005);吉林大学"985工程"项目

摘　　要：基于资产财富效应理论,实证研究了我国资产价格变化对居民消费的影响。研究表明:股票市场和房地产市场都表现出了一定的财富效应,房地产市场的财富效应远大于股票市场的财富效应,资产财富效应随着经济的发展渐强。同时发现国民收入和社会消费存在互动效应,房地产市场的发展会促进国民经济的发展,股市对国民经济发展的促进作用有限。This paper, based on wealth effect theory, makes an empirical study for the wealth effect of our country＇s assets price. The main conclusions are as follows： both the stock market and real estate market show some wealth effects in China; the wealth effect in real estate market is far greater than that in the stock market; as the economy develops, the wealth effect of assets is strengthening. Meanwhile, there is an interacting effect between GDP and the social consumption; the development of the real market can promote national economy; but the effect of the stock market is limited.

关 键 词：股票市场 房地产市场 财富效应 

分 类 号：F830.99[经济管理—金融学]