DO MULTIPLE HOUSING BUBBLES EXIST IN CHINA? FURTHER EVIDENCE FROM GENERALIZED SUP ADF TESTS

被引：0
|
作者：
Liu, Wen-Chi [1 ]
机构：
[1] Da Yeh Univ, Dept Finance, Changhua, Taiwan
来源：
ROMANIAN JOURNAL OF ECONOMIC FORECASTING | 2016年 / 19卷 / 04期
关键词：
housing price-to-income ratio; housing price-to-rent ratio; multiple housing bubbles; explosive behavior of housing prices; generalized sup ADF test; PRICE BUBBLES; HONG-KONG; MARKET; FUNDAMENTALS;
D O I：
暂无
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This study examines whether the explosive behavior of housing prices or multiple housing bubbles exist in the 35 cities of China from 1998 Q1 to 2012 Q4, total of sixty quarters. The generalized sup ADF unit root test (GSADF) of Phillips, Shi, and Yu (2011a, 2013) and the ratios of housing price-to-income and housing price-to-rent are used to measure the explosive behavior of housing prices in China. The results reveal that two housing bubbles exist in 4 and 1 of 35 cities from the aspects of housing price to -income ratios and housing price-to-rent ratios, respectively. Wholly, the problems of the explosive behavior of housing prices are almost well-controlled in China from1998 Q1 to 2012 Q4.
引用
收藏
页码：135 / 145
页数：11
相关论文
共 40 条
  • [21] Do hospital and rail accessibility have a consistent influence on housing prices? Empirical evidence from China
    Chen, Kaida
    Lin, Hanliang
    Cao, Fangxiao
    Han, Yan
    You, Shuying
    Shyr, Oliver
    Lu, Yichen
    Huang, Xiaodi
    FRONTIERS IN ENVIRONMENTAL SCIENCE, 2022, 10
  • [22] Do high housing prices crowd out young professionals?-Micro-evidence from China
    Ding, Yemin
    Chin, Lee
    Lu, Mengqiu
    Deng, Peidong
    ECONOMIC RESEARCH-EKONOMSKA ISTRAZIVANJA, 2022,
  • [23] How do housing prices affect consumption in China? New evidence from a continuous wavelet analysis
    Su, Chi-Wei
    Yin, Xiao-Cui
    Tao, Ran
    PLOS ONE, 2018, 13 (09):
  • [24] Do neighborhood ties matter for residents' mental health in affordable housing: Evidence from Guangzhou, China
    Xiao, Yang
    Miao, Siyu
    Sarkar, Chinmoy
    Fan, Lingyun
    Li, Zhigang
    CITIES, 2020, 100
  • [25] Explosive bubbles in the US-China exchange rate? Evidence from right-tailed unit root tests
    El Montasser, Ghassen
    Fry, John
    Apergis, Nicholas
    CHINA ECONOMIC JOURNAL, 2016, 9 (01) : 34 - 46
  • [26] Do Financial Markets Care about Corporate Social Responsibility Disclosure? Further Evidence from China
    Xu, Shan
    Liu, Duchi
    AUSTRALIAN ACCOUNTING REVIEW, 2018, 28 (01) : 79 - 103
  • [27] Do high housing prices inhibit entrepreneurial activity?-Evidence from Yangtze River Delta cities, China
    Zhang, Juanfeng
    Lin, Yupiaopiao
    Han, Rui
    Li, Lele
    Zeng, Hui
    GROWTH AND CHANGE, 2024, 55 (03)
  • [28] Do housing booms reduce fertility intentions? Evidence from the new two-child policy in China
    Meng, Lina
    Peng, Lu
    Zhou, Yinggang
    REGIONAL SCIENCE AND URBAN ECONOMICS, 2023, 101
  • [29] Do multiple large shareholders affect corporate bond yield spreads? Evidence from China
    Wang, Xin
    Xie, Yan
    Song, Di
    Zhang, Weihua
    PACIFIC-BASIN FINANCE JOURNAL, 2022, 73
  • [30] Revisit stock price bubbles in the COVID-19 period: Further evidence from Taiwan's and Mainland China's tourism industries
    Wang, Mei-Chih
    Chang, Tsangyao
    Min, Jennifer
    TOURISM ECONOMICS, 2022, 28 (04) : 951 - 960
1234