Abstract
Based on the fixed-effect model, with a five-period unbalanced panel data from China Family Panel Studies (CFPS) in 2010, 2012, 2014, 2016 and 2018, this paper studies the effect and the transmitting channel of housing price on consumption. The results show that the effect of housing prices on the consumption of households is significantly positive and the rise of housing price has a stronger effect on the promotion of basic consumption. Further analysis of the differences shows that house prices mainly affect the consumption of high-income families, young and middle-aged families, families with multiple suites, and households in the eastern and central regions. In addition, the intermediary effect test shows that the impact of house prices on consumption is partially transmitted through property income.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
More From: American Journal of Industrial and Business Management
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.