房地产市场财富效应的实证研究——基于分位数回归法  

An Empirical Study on Wealth Effect of Real Estate Market——Based oon Quantile Regressionn

作　　者：王阳阳 Wang Yang-yang(Lanzhou University of Finance and Economics,School of Statistics,Lanzhou Gansu 730020)

机构地区：[1]兰州财经大学,甘肃兰州730020

出　　处：《河西学院学报》2017年第4期100-105,共6页Journal of Hexi University

摘　　要：在弗兰科·莫迪里安尼的生命周期假说理论基础上,设定居民房地产市场财富效应的消费函数模型。并在该模型上,利用分位数回归法对2010年1月至2016年9月的月度数据进行了实证研究。结果表明,我国房地产市场不存在财富效应。论文进一步深入分析了制约我国居民房地产财富效应发挥的各种经济原因和房地产经济中存在的相关问题;最后,结合我国的实际经济状况,提出有效发挥我国居民房地产市场财富效应,扩大消费需求并促进国民经济增长的对策建议。This paper sets up the consumption function model of the wealth effect of residential real estatemarket based on Modigliani’s life cycle hypothesis.On the model,we did empirical research about the monthlydata from January2010to September2016by using the quantile regression method.The results of the empiricalstudy show that there is no wealth effect in our country’s real estate market.Then,the paper further analyzes avariety of economic reasons and related problems about the result of research;Finally,combining the actualstate of the economy of our country,this paper puts forward effective suggestions to make estate market wealthpositively effective,expand consumer demand,and boost the growth of national economy.

关 键 词：财富效应 房地产 分位数回归 

分 类 号：F299.23[经济管理—国民经济]