中国城镇住宅价格与消费关系的实证研究——基于生命周期假说的宏观消费函数  

Demonstration Research on the Relations between Urban Inhabitants' Housing Prices and Consumption——Based on the Macroscopic Consumption Function of the Life Cycle Hypothesis

作　　者：刘旦[1] 

机构地区：[1]上海财经大学公共经济与管理学院,上海200433

出　　处：《上海财经大学学报（哲学社会科学版）》2008年第1期80-87,共8页Journal of Shanghai University of Finance and Economics

摘　　要：在生命周期假说的基础上，本文构造了一个城镇居民住宅资产与城镇居民人均消费关系的模型，并利用2000-2006年的季度数据，实证研究了中国城镇居民住宅资产对城镇居民人均消费的影响。实证结果表明，中国城镇住宅市场不具有财富效应。作者认为，住宅供给结构不合理和住宅市场信息不对称是造成我国城镇住宅市场不具有财富效应的重要原因。Based on the life cycle hypothesis, this paper constructs a model of the relationship between urban inhabitants＇ housing prices of China and consumption, and makes a research on the impact of urban inhabitants＇ housing prices on consumption with quarter data from 1978 to 2006. We find that urban inhabitants＇ housing prices has no wealth effect, which is largely due to the unreasonable housing supply structure and asylmnetrical informa- tion.

关 键 词：住宅价格 消费函数 生命周期假定 财富效应 

分 类 号：F293.3[经济管理—国民经济]