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Rural-Urban Migration, Structural Transformation, and Housing Markets in China
Garriga, Carlos - 2017
This paper explores the contribution of the structural transformation and urbanization process to China's housing …
Persistent link: https://www.econbiz.de/10012947649
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The Gradients of Power : Evidence from the Chinese Housing Market
Fang, Hanming - 2014
Using a large, unique dataset on the Chinese housing market, we propose to measure corruption using the price differences paid by bureaucrat buyers and non-bureaucrat buyers in the housing market. We find that the housing price paid by bureaucrat buyers is on average 1.05 percentage points lower...
Persistent link: https://www.econbiz.de/10013050288
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Monetary and Fiscal Stimuli, Ownership Structure, and China's Housing Market
Deng, Yongheng - 2011
, China's stimulus boosted real GDP growth from an annualized 6.2% in the first quarter of 2009 trough to 11.9% in the first … speed and efficacy of China's stimulus derives from state control over its banking system and corporate sector. Beijing …, fueling a real estate bubble; and that China's seemingly highly effective macroeconomic stimulus package may well have induced …
Persistent link: https://www.econbiz.de/10013128599
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Evaluating Conditions in Major Chinese Housing Markets
Wu, Jing - 2010
High and rising prices in Chinese housing markets have attracted global attention, as well as the interest of the Chinese government and its regulators. Housing markets look very risky based on the stylized facts we document. Price-to-rent ratios in Beijing and seven other large markets across...
Persistent link: https://www.econbiz.de/10013141003
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Global Capital and Local Assets : House Prices, Quantities, and Elasticities
Gorback, Caitlin; Keys, Benjamin J. - 2022
reversing with the onset of the U.S.–China trade war. Second, we use international tax policy changes as a U.S. housing demand …
Persistent link: https://www.econbiz.de/10013292691
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Housing is the Business Cycle
Leamer, Edward E. - 2010
Of the components of GDP, residential investment offers by far the best early warning sign of an oncoming recession. Since World War II we have had eight recessions preceded by substantial problems in housing and consumer durables. Housing did not give an early warning of the Department of...
Persistent link: https://www.econbiz.de/10012759806
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Forecasting Prices and Excess Returns in the Housing Market
Case, Karl E. - 2010
The U. S. market for homes appears not to be efficient. A number of information variables predict housing price changes and excess returns of housing relative to debt over the succeeding year. Price changes observed over one year tend to continue for one more year in the same direction....
Persistent link: https://www.econbiz.de/10012762802
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Expectations, Efficiency, and Euphoria in the Housing Market
Capozza, Dennis R. - 2010
This paper studies expectations of capital appreciation in the housing market. We show that expectations impounded in the rent/price ratio at the beginning of the decade successfully predict appreciation rates, but only if we first control for cross-sectional differences in the quality of rental...
Persistent link: https://www.econbiz.de/10012763729
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Housing, Consumption, and Asset Pricing
Piazzesi, Monika - 2009
This paper considers a consumption-based asset pricing model where housing is explicitly modeled both as an asset and as a consumption good. Nonseparable preferences describe households' concern with composition risk, that is, fluctuations in the relative share of housing in their consumption...
Persistent link: https://www.econbiz.de/10012767424
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Housing Supply and Housing Bubbles
Glaeser, Edward L. - 2015
Like many other assets, housing prices are quite volatile relative to observable changes in fundamentals. If we are going to understand boom-bust housing cycles, we must incorporate housing supply. In this paper, we present a simple model of housing bubbles that predicts that places with more...
Persistent link: https://www.econbiz.de/10012750145