House Price Bubbles in China

Yu Ren (), Yufei Yuan and Cong Xiong

No 2013-10-14, Working Papers from Wang Yanan Institute for Studies in Economics (WISE), Xiamen University

Abstract: In this paper, we apply the theory of rational expectation bubbles to the Chinese house market. Rational expectation bubbles imply that negative returns on house prices are, theoretically, less likely to occur if the bubbles exist and persist. Based on the data of 29 cities in China, we find no evidence to support the existence of bubbles in the 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: 2013-10-14
New Economics Papers: this item is included in nep-mac and nep-ure
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Journal Article: House price bubbles in China (2012)
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