Assessing the impacts of pandemic and the increase in minimum down payment rate on Shanghai housing prices

Hongjun Li, Zheng Li () and Cheng Hsiao
Additional contact information
Hongjun Li: Tsinghua University
Zheng Li: North Carolina State University
Cheng Hsiao: University of Southern California

A chapter in Advances in Applied Econometrics, 2024, pp 197-218 from Springer

Abstract: Abstract In 2016, the city of Shanghai increased the minimum down payment rate requirement for purchasing various types of properties. We study the treatment effect of this major policy change on Shanghai’s housing market by employing panel data from March 2009 to December 2021. Since the observed data are either in the form of no treatment or under the treatment but before and after the outbreak of COVID-19, we use the panel data approach suggested by Hsiao et al. (J Appl Econ, 27(5):705–740, 2012) to estimate the treatment effects and a time-series approach to disentangle the treatment effects and the effects of the pandemic. The results suggest that the average treatment effect on the housing price index of Shanghai over 36 months after the treatment is - $$ - $$ 8.17%. For time periods after the outbreak of the pandemic, we find no significant impact of the pandemic on the real estate price indices between 2020 and 2021.

Keywords: Housing prices; Down payment rate; Pandemic; Panel data (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:adschp:978-3-031-48385-1_8

Ordering information: This item can be ordered from
http://www.springer.com/9783031483851

DOI: 10.1007/978-3-031-48385-1_8

Access Statistics for this chapter

More chapters in Advanced Studies in Theoretical and Applied Econometrics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().