A Dynamic Model of Housing Wealth Effect: Based on the Diversity of Wealth Expectations

Jiao Danxiao (), Wu Di (), Li Xiuting (), Dong Jichang () and Dash Wu Desheng ()
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Jiao Danxiao: School of Management, University of Chinese Academy of Sciences, Beijing100190, China
Wu Di: School of Management, University of Chinese Academy of Sciences, Beijing100190, China
Li Xiuting: School of Management, University of Chinese Academy of Sciences, Beijing100190, China
Dong Jichang: School of Management, University of Chinese Academy of Sciences, Beijing100190, China
Dash Wu Desheng: Risklab, University of Toronto, 19 Borden ST, Toronto, ON, Canada

Journal of Systems Science and Information, 2014, vol. 2, issue 1, 47-53

Abstract: Considering the dynamics and diversity of wealth expectations, this paper follows and extends Hall’s consumption function to establish a new dynamic model of housing wealth effect. People are classified into the rich group and the poor group and a housing wealth effect model is made for each group to explore the relationship between housing wealth effect and social inequality. We get three interesting conclusions which are helpful for further empirical test apart from the former deviation or fallacy.

Keywords: consumption function; housing wealth effect; dynamic model; diversity; social inequality (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:bpj:jossai:v:2:y:2014:i:1:p:47-53:n:5

DOI: 10.1515/JSSI-2014-0047

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