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China has weathered the global financial turmoil in much better shape than most other countries, including the United States. However, there been concerns that banks loosened their lending standards too much as a result of a huge stimulus, among other factors. This led to excessive lending to...
Persistent link: https://www.econbiz.de/10013089356
prices and negatively to lending. The inability to increase supplies in response to rising demand since 2003 has also much to …
Persistent link: https://www.econbiz.de/10012007579
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 of the bubble, the house price evolution is...
Persistent link: https://www.econbiz.de/10014044317
China. Using a unique dataset of city-level house prices and rents, this paper investigates the presence of price bubbles in … major Chinese city housing markets. Our findings show evidence of price bubbles in most housing markets, even though the … bubbles might be, to a large extent, mitigated by strong government intervention. In order to distinguish rational bubbles …
Persistent link: https://www.econbiz.de/10013005714
(PRC). Both markets face housing affordability problems due to limited land supply, for which the solutions vary …
Persistent link: https://www.econbiz.de/10011453313
The problem of housing affordability is not only of considerable importance for governments to make housing policies, and is but also often the focus of academic research of housing markets. This paper therefore attempts to examine the affordability problem in China based on a set of...
Persistent link: https://www.econbiz.de/10013024566
macroeconomic severity of bursting bubbles, even if they exist. These include the setting of land supply and prices by the … of bubbles forming there. However, China's unique housing market characteristics make it difficult to assess the …
Persistent link: https://www.econbiz.de/10012918551
deed records and names, and estimate their causal impact by instrumenting for Chinese buyers’ demand using flight time from … fall as constructions rise, especially in areas with elastic housing supply …
Persistent link: https://www.econbiz.de/10013219278
Persistent link: https://www.econbiz.de/10013213216
adjustment process appears prone to “bubbles” in the sense of strong momentum, but Chinese prices have been generally mean …
Persistent link: https://www.econbiz.de/10012914765