House price bubbles in China

Yu Ren (), Cong Xiong and Yufei Yuan ()

China Economic Review, 2012, vol. 23, issue 4, 786-800

Abstract: In this paper, we apply the theory of rational expectation bubbles proposed by Blanchard and Watson (1983) to the Chinese housing market. The theory implies that negative returns on house prices are less likely to occur if the bubbles exist. Based on data from 35 cities in China, we find no evidence to support the existence of such bubbles in the Chinese housing market.

Keywords: China house price; Rational expectation bubble; Hazard rate (search for similar items in EconPapers)
JEL-codes: E31 R31 (search for similar items in EconPapers)
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (63)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1043951X12000247
Full text for ScienceDirect subscribers only

Related works:
Working Paper: House Price Bubbles in China (2013)
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:eee:chieco:v:23:y:2012:i:4:p:786-800

DOI: 10.1016/j.chieco.2012.04.001

Access Statistics for this article

China Economic Review is currently edited by B.M. Fleisher, K. X. D. Huang, M.E. Lovely, Y. Wen, X. Zhang and X. Zhu

More articles in China Economic Review from Elsevier
Bibliographic data for series maintained by Catherine Liu ().