Tail causalities between monetary supply and real estate prices in China
Bibliographic Data
| ID | 13119357 |
|---|---|
| Authors | Haoyuan Ding (0000-0003-2252-3681, Shanghai University of Finance and Economics, corresponding author), Guoyong Liang (Shanghai University of Finance and Economics), Tong Qi (0000-0002-2823-6379, Shanghai University of Finance and Economics), Jiezhou Ying (0000-0001-7423-2478, Shanghai University of Finance and Economics) |
| Year | 2019 |
| Volume | 8 |
| Issue | 1 |
| Pages | 82-95 |
| Publication date | 2019-11-27 |
| Open Access | No |
| Type | ARTICLE |
| Venue | Economic and Political Studies (JOURNAL) |
| Journal identifiers | ISSN: 2470-4024 • E-ISSN: 2095-4816 |
| Publisher | Taylor & Francis (PUBLISHER • GB) |
| DOI | 10.1080/20954816.2019.1690268 |
| OpenAlex | W2990021037 |
| Language | EN |
| References cited | 24 |
The asymmetric and segmented causality between the monetary policy and real estate market in China is crucial but remains mystery. With the application of quantile causality test, this article investigates nonlinear dependence between property prices and money supply. Our results show that the tail causality exists in many cities in China. Moreover, we find that small-sized cities and inland cities are more sensitive to the broad money (M2) changes when the housing market return is in the tail quantile intervals. These findings can help the Chinese government formulate appropriate monetary policies regarding their implications in the real estate market
China · Economics · Geography · Macroeconomics · Monetary economics · Monetary policy · Money supply · Real estate · Financial Risk and Volatility Modeling · Housing Market and Economics · Insurance and Financial Risk Management · Finance
House Prices, Borrowing Constraints, and Monetary Policy in the Business Cycle
Regression Quantiles
Investigating Causal Relations by Econometric Models and Cross-spectral Methods
Dual-market Equilibrium of China’s Residential Housing Price
Comparisons of the relations between housing prices and the macroeconomy in China’s first-, second- and third-tier cities
Monetary Policy and Asset Price Volatility
| Highly cited | No |
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