for mainland China. In a stochastic modelling framework, the riskiness, rate of increase and persistence of house price … predictions from the theo-retical model. Keywords: Consumption, house prices, China, panel data JEL-Classification: E21, R31, C23 …

cointegration and Granger causality testing approach. Overall, we find mixed evidence in support of Wagner's law for China's central … and western provinces, but no support for Wagner's law for the full panel of provinces or for the panel of China's eastern …

for mainland China. In a stochastic modelling framework, the riskiness, rate of increase and persistence of house price …