tailieunhanh - The heterogenous impact of fluctuation of housing prices upon consumption of urban households in China

This paper found that the increase in housing prices can significantly promote the consumption of urban households with housing in China. And the promotion effect increases with family’s net finance asset, ., the richer the families are, the more their spending rises. For the urban families without housing, the increase in housing prices inhibit their consumption. When housing prices rise by 1%, the consumption drop by . The mechanism is that the increase in housing prices reduce the households’ marginal propensity to consume by higher precautionary saving motivation. As a whole, the increase in housing price can stimulate consumption, but the impact is very small. The consumption elasticity to housing prices is only ; On the contrary, the wealth effect of housing assets will enlarge the gap of residents’ consumption and worsen social welfare. So it’s not feasible to promote consumption by increasing housing prices. In addition, the wealth effect has significantly heterogeneity by the family structure characteristics. | The heterogenous impact of fluctuation of housing prices upon consumption of urban households in China

• Đầu tư Bất động sản
• House prices
• Wealth effect
• Urban households
• Housing prices upon consumption
• Heterogenous impact
• Current account deficit
• Foreign direct investment
• Cross border real estate transactions
• House prices in Turkey
• Non performing loans
• Bank specific determinants
• Housing market
• Housing prices in Taiwan
• Persistent rises in house prices
• Housing markets
• Housing markets in the United States
• Housing markets in the Japan
• Land prices
• House prices in Japan
• Adaptive Composite Materials
• Bionics Principles
• Abnormal Elasticity
• Moving Interfaces
• Mechanics
• Composite Beams
• Green spaces
• Economic value
• Physical planning decisions
• Natural topographic structure
• Housing deficit
• Consumer Products
• Eco Product Design
• Health Systems
• New Challenges
• Ethics of Industry
• Health Promoting Charities