How does housing price affect consumption in China: Wealth effect or substitution effect?

This study investigates the asymmetric effects of housing price on consumption in 35 major Chinese cities, having regard to heterogeneity of the housing and financial markets. Unlike previous studies, this study employs the threshold regression model in analyzing the two important effects: namely we...

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Veröffentlicht in:	Cities 2017-04, Vol.64, p.1-8
Hauptverfasser:	Dong, Zhaoyingzi, Hui, Eddie C.M., Jia, ShengHua
Format:	Artikel
Sprache:	eng
Schlagworte:	Cities Consumption Economic development Financial market Heterogeneity Housing Housing market Housing price Policy making Prices Relocation Secondary mortgage market Threshold regressive model Thresholds Wealth
Online-Zugang:	Volltext
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