The Application of Time-Delay-Dependent Control in the Transmission Effect of Monetary Policy on Real Estate Market

Haifeng Guo, Yu Qian, Bo Wang and Yi Qiu

Mathematical Problems in Engineering, 2014, vol. 2014, 1-6

Abstract:

This paper uses a time-delay-dependent control model to analyze the transmission effect of monetary policy on the real estate market. We establish a theoretical framework between monetary policy and real estate market based on the three channels, that is, interest rate channel, monetary supply channel, and credit channel. Then we construct a basic model using control method. By analyzing the effect of the time-delay characteristics of monetary policy on the real estate market, we introduce time variables and propose a time-delay-dependent control model. We test the robustness of the model using the Chinese data of the monetary policy and the real estate market and prove that this model can be well employed in the reality.

Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:hin:jnlmpe:421510

DOI: 10.1155/2014/421510

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