Analysis of China's real estate prices and macroeconomy based on evolutionary co-spectral method

Artikel

Purpose: This paper investigates the dynamic interaction between the real estate market and the macroeconomic environment of China by use of dynamic coherence function based on co-spectral analysis. Design/methodology/approach: Through a theoretical perspective, the dynamic interrelationship among economic variables at different time intervals (both long and short terms) is analyzed. Findings: The empirical results show that China's real estate market features a high coherence with the change of the long-term interest rate, employment rate and money supply, while there is a moderate coherence between the real estate market and the inflation rate and economic growth rate, and the coherence between the short-term rate of interest and the real estate market is the lowest. Research implications: Previous researches have some shortcomings. They do not consider the dependence between nonlinear series, but the latter is crucial to avoid the deviation of results. In this paper, we proposed a new method of experience to overcome these shortcomings. Originality/value: The paper provides a reasonable explanation accordingly to different coherences between the real estate market and the macroeconomic variables.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: Journal of Industrial Engineering and Management (JIEM) ; ISSN: 2013-0953 ; Volume: 8 ; Year: 2015 ; Issue: 2 ; Pages: 598-614 ; Barcelona: OmniaScience

Classification and Topics

• Classification: Management
• Subject: real estate ; macroeconomy ; dynamic coherence function ; monetary policy

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Li, Juan ; Chen, Xuemin
• Event: Veröffentlichung
• (who): OmniaScience
• (where): Barcelona
• (when): 2015

Further information

• DOI: doi:10.3926/jiem.1419
• Handle: http://hdl.handle.net/10419/188700
• Last update: 10.03.2025, 11:45 AM CET