Measuring real estate policy uncertainty in China
Bibliographic Data
| ID | 6045469 |
|---|---|
| Authors | Yingnan Chen (0000-0002-2544-181X, Shandong University of Finance and Economics, corresponding author), Dongcui Mo (University of Chinese Academy of Social Sciences), Sihua Tang, Huihui Li (0000-0001-5736-7709, China Banking Regulatory Commission) |
| Year | 2023 |
| Volume | 3 |
| Issue | 1 |
| Pages | 23-34 |
| Publication date | 2023-03-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | China Economic Quarterly International (JOURNAL) |
| Journal identifiers | ISSN: 2666-9331 • E-ISSN: 2666-9331 |
| Publisher | Elsevier BV (PUBLISHER) |
| DOI | 10.1016/j.ceqi.2023.02.003 |
| OpenAlex | W4324134895 |
| Language | EN |
| Citations received | 1 |
| References cited | 3 |
Referring to the newspaper textual analysis method by Baker et al. (2016), this study constructs a monthly Chinese Real Estate Policy Uncertainty (REPU) index from 2001 to 2018. The index increases significantly near the promulgation of major policies. We also conduct evaluation of the index with the vector autoregression (VAR) model, which reveals that the rise of REPU indicates the decline in the growth rate of commodity housing development investment, sales area, and real estate industry added value. The REPU index is helpful to expand the understanding of policy uncertainty, and the accurate measurement of REPU is the basis for further research of its impact on China's real estate market
Capitalization rate · China · Commodity · Econometrics · Economics · Financial economics · Geography · Political science · Promulgation · Real estate · Real estate investment trust · Statistics · Vector autoregression · Computer Science · Energy, Environment, Economic Growth · Market Dynamics and Volatility · Mathematics · Monetary Policy and Economic Impact · Finance
| Citations per year | 1 |
|---|---|
| Citation span | 2026 - 2026 (1) |
| Highly cited | No |