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Housing prices and population dynamics in urban China

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  • Yi Ding

Abstract

In this study, a dynamic stochastic general equilibrium (DSGE) model is used to investigate the influence of population on housing price dynamics in urban China. The contribution of population growth to the housing price trend and the contribution of population shocks to housing price fluctuations are quantitatively measured. The empirical results indicate that the ongoing policy to control the population size in large cities in China can decrease the growth rate of housing prices by 0.49% every year, which accounts for 1/10 of the total housing price trend. Furthermore, this policy cannot stabilize housing prices because population shocks have negligible effects on the housing price cycle. Housing technology shocks and housing preference shocks are responsible for most of the housing price fluctuations.

Suggested Citation

  • Yi Ding, 2019. "Housing prices and population dynamics in urban China," Pacific Economic Review, Wiley Blackwell, vol. 24(1), pages 27-45, February.
    • Handle: RePEc:bla:pacecr:v:24:y:2019:i:1:p:27-45
    DOI: 10.1111/1468-0106.12271
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    Cited by:

    1. Fennee Chong & Venus Khim-Shen Liew, 2020. "New Zealand's Residential Price Dynamics: Do capability to consume and government policies matter?," Economics Bulletin, AccessEcon, vol. 40(3), pages 2262-2274.
    2. Rebeca Sultana & Stephen P Luby & Emily S Gurley & Nadia Ali Rimi & Sayeda Tasnuva Swarna & Jahangir A M Khan & Nazmun Nahar & Probir Kumar Ghosh & Sushil Ranjan Howlader & Humayun Kabir & Shifat Khan, 2021. "Cost of illness for severe and non-severe diarrhea borne by households in a low-income urban community of Bangladesh: A cross-sectional study," PLOS Neglected Tropical Diseases, Public Library of Science, vol. 15(6), pages 1-16, June.

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