What drives housing consumption in China? Based on a dynamic optimal general equilibrium model and spatial panel data analysis
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Keywords

Energy use
Housing values
Optimal dynamic general equilibrium
Spatial panel econometrics
China.

How to Cite

DU, Z., ZHANG, W. K., & HE, Y. (2018). What drives housing consumption in China? Based on a dynamic optimal general equilibrium model and spatial panel data analysis. Journal of Economics and Political Economy, 5(1), 1–26. https://doi.org/10.1453/jepe.v5i1.1557

Abstract

Abstract. This paper examines the housing sales in China from 2004 to 2015 utilizing an optimal dynamic general equilibrium theoretical framework combined with a macroeconomic model. The spatial panel econometric empirical results suggest that housing prices and economic growth have increased housing sales in China. However, since house is considered as a special commodity in China, and unemployment show negative impacts on housing sales.

Keywords. Energy use, Housing values, Optimal dynamic general equilibrium, Spatial panel econometrics, China.

JEL. Q41, R31, E10.
https://doi.org/10.1453/jepe.v5i1.1557
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