Jin, Sainan; Jiang, Wanjun; Su, Liangjun; Hu, Jianying - In: Economics Bulletin 3 (2006) 7, pp. 1-8
The dramatic rise of house prices in many cities of China has brought huge attention from both the governmental and academic circles. There is a huge debate on whether the increasing house prices are driven by market fundamentals or just by speculation. Like Levin and Wright (1997a, 1997b), we...
