Title: A Research on the Relationship Between Housing Price and Land Price in China
Abstract: In this paper,the writer analyzes the present situation of the real estate market in China and maintains that there exists a Potential Housing Price behind the housing price and the land price.We implement methods such as Gonzalo-Granger permanent-instantaneous model and Hasbrouck information share model to make an empirical analysis of the Chinese housing price index,factorizing the long memory components to get each price's contribution and testing the existence and components;We also adopt Granger causality test,from the perspective of short term,to find out the relationship among the housing price and the land price.The results show that for a long term,the housing price is slightly higher than land price and becomes the main factor in dominating the potential housing price,and for a short term,land price and housing price will affect each other alternatively.
Publication Year: 2009
Publication Date: 2009-01-01
Language: en
Type: article
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