What drives housing consumption in China? Based on a dynamic optimal general equilibrium model and spatial panel data analysis

Zhipeng Du, Wei Kun Zhang and Yiming He ()
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Zhipeng Du: College of Economics & Management, South China Agricultural University, China.
Wei Kun Zhang: College of Economics & Management, South China Agricultural University, China.
Yiming He: National School of Agricultural Institution & Development, South China Agricultural University. Division of Resource Management, West Virginia University, U.S.A.

Journal of Economics and Political Economy, 2018, vol. 5, issue 1, 1-26

Abstract: This paper examines the housing sales in China from 2004 to 2015 utilizing an optimal dynamic general equilibrium theoretical framework combined with a macroeconomic model. The spatial panel econometric empirical results suggest that housing prices and economic growth have increased housing sales in China. However, since house is considered as a special commodity in China, and unemployment show negative impacts on housing sales.

Keywords: Energy use; Housing values; Optimal dynamic general equilibrium; Spatial panel econometrics; China. (search for similar items in EconPapers)
JEL-codes: E10 Q41 R31 (search for similar items in EconPapers)
Date: 2018
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