. Simplified version of the model implications are estimated with the data from four major cities in China. Both price and …

between real estate and stock markets by fitting different classes of time-varying volatility model; second, to perform VaR … processes, in terms of mean, volatility, correlation, can be compared. In the econometric analyses, we estimate both a …

volatility. We examine whether this relationship holds for house price growth volatility, which also declined during the Great … demonstrate that the following are positively associated with house price growth volatility: 1) the employment, income, and output … shares of a volatile sector (manufacturing); 2) employment growth volatility; and 3) exposure to idiosyncratic shocks to …

-purchase restrictions in China. The remaining overpayment can be due to cultural differences. Combining IV and DID estimation, I explore the …

China's residential real estate sector plays an important role in the economy and has been a key driver of growth …