安徽省房地产对不同收入阶层的财富效应研究  

The Study of Real Estate Wealth Effect on Different Income Classes in Anhui Province

作　　者：李婷婷 LI Ting-ting(School of Economics,Anhui University,Hefei 230601,China)

机构地区：[1]安徽大学经济学院,合肥230601

出　　处：《合肥学院学报（综合版）》2018年第5期27-32,共6页Journal of Hefei University：Comprehensive ED

摘　　要：从房地产财富效应的视角,结合生命周期消费理论模型,对安徽省房地产的财富效应进行实证检验。首先构建了1999—2016年的不同收入阶层的面板模型,接着通过固定效应变系数模型论证安徽省房地产价格对城镇居民消费的影响。实证结果显示在安徽省区域内,房地产价格波动对城镇居民消费确实产生了一定的财富效应,但这种财富效应对于不同收入等级的消费者来说并不均衡,低收入阶层一直被排除在房地产市场之外,房价上涨对其并没有显著的财富效应。而对于高收入阶层来说,房地产的财富效应则十分显著。通过抑制投机购房、加大住房保障等措施来消除不同收入阶层的财富效应差距,缓解贫富差距,同时刺激消费,扩大内需。In China, real estate has gradually became one of the most important asset allocation for urban residents. The rapid rise of housing prices in recent years has had a far-reaching impact on all aspects of China＇ s economy. From the perspective of real estate wealth effect, combined with the hypothesis of life cycle, this paper empirically tests the wealth effect of real estate in Anhui Province. Firstly, this paper constructs a panel model of different income classes from 1999 to 2016, and then demonstrates the impact of real estate prices on urban residents＇ consumption in Anhui Province through a fixed effect variable coefficient model. The empirical results show that the fluctuation of real estate prices does have a wealth effect on the consumption of urban residents in Anhui Province, but this wealth effect is not balanced for consumers of different income levels. The low-income class has been excluded fi＇om the real estate market, and the rise of housing prices has no significant financial impact on them. For the high-income class, the wealth effect of real estate is very significant. Therefore, this paper proposes to eliminate the wealth effect gap between different income classes, alleviate the gap between the rich and the poor, stimulate consumption and expand domestic demand by restraining speculative pin, base and increasing housing security.

关 键 词：房价 财富效应 居民消费 不同收入阶层 

分 类 号：F061.5[经济管理—政治经济学]