Arbeitspapier
Real-time warning signs of emerging and collapsing Chinese house price bubbles
The recent increase in Chinese house prices has led to concerns that China is vulnerable to asset price shocks. In this paper, we apply recently developed recursive unit root tests to spot the beginning and the end of potential speculative bubbles in Chinese house price cycles. Overall, we find that except for 2009-2010 actual house prices are not significantly disconnected from fundamentals. Thus, the evidence for speculative house price bubbles in China is in general weak.
- Sprache
-
Englisch
- ISBN
-
978-952-462-758-0
- Erschienen in
-
Series: BOFIT Discussion Papers ; No. 27/2012
Klassifikation
Wirtschaft
Statistical Simulation Methods: General
Financial Crises
Asset Pricing; Trading Volume; Bond Interest Rates
Housing Supply and Markets
Statistical Simulation Methods: General
Financial Crises
Asset Pricing; Trading Volume; Bond Interest Rates
Housing Supply and Markets
Thema
house prices
China
speculative bubbles
recursive unit root tests
China
speculative bubbles
recursive unit root tests
Ereignis
Geistige Schöpfung
(wer)
Chen, Xi
Funke, Michael
Funke, Michael
Ereignis
Veröffentlichung
(wer)
Bank of Finland, Institute for Economies in Transition (BOFIT)
(wo)
Helsinki
(wann)
2012
- Handle
- Letzte Aktualisierung
-
20.09.2024, 08:24 MESZ
Objekttyp
- Arbeitspapier
Beteiligte
- Chen, Xi
- Funke, Michael
- Bank of Finland, Institute for Economies in Transition (BOFIT)
Entstanden
- 2012
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