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House Price Bubbles in China

id:2032 时间:20131014 状态:published 点击数:
作者Yu Ren, Yufei Yuan, Cong Xiong
正文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.
JEL-Codes:R31; E31
关键词:China house price; rational expectation bubble; hazard rate
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