For many analysts, the Chinese economy is spurred by a bubble in the housing market, probably driven by the fiscal … stimulus package and massive credit expansion, with possible adverse effects to the real economy. For example, the stock of … wealth. Therefore, a decline of the bubble could have only modest effects on the course of the real economy. …

For many analysts, the Chinese economy is spurred by a bubble in the housing market, probably driven by the fiscal … stimulus package and massive credit expansion, with possible adverse effects to the real economy. To get insights into the size … economy. -- Chinese economy ; panel cointegration ; house price bubbles …

For many analysts, the Chinese economy is spurred by a bubble in the housing market, probably driven by the fiscal … stimulus package and massive credit expansion, with pos-sible adverse effects to the real economy. To get insights into the … growth may not be heavily affected. Thus, a decline of the bubble will likely have only modest effects on the real economy …