IDEAS home Printed from https://ideas.repec.org/p/imf/imfwpa/2022-196.html

A Tale of Tier 3 Cities

Author

Listed:
  • Mr. Kenneth Rogoff
  • Yuanchen Yang

Abstract

This paper provides new estimates of the housing stock, construction rates and price developments by city tier in China in order to understand where imbalances might be concentrated, and the implications of any significant contraction. We also update estimates of the size of China’s rapidly evolving real estate sector through 2021, allowing one to look at the initial impact of COVID-19, as well as extending the analysis to incorporate urban-expansion related infrastructure construction. We argue that China overall faces imbalances between supply and demand for housing stock, but the problem is significantly deeper outside tier 1 cities.

Suggested Citation

  • Mr. Kenneth Rogoff & Yuanchen Yang, 2022. "A Tale of Tier 3 Cities," IMF Working Papers 2022/196, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2022/196
    as

    Download full text from publisher

    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=524064
    Download Restriction: no
    ---><---

    Other versions of this item:

    Citations

    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Chartbook #194 Can Beijing halt China’s housing avalanche? The most important economic-policy question for 2023?
      by Adam Tooze in Adam Tooze on 2023-02-05 21:37:56

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. is not listed on IDEAS
    2. Rogoff, Kenneth, 2025. "Debt supercycle versus secular stagnation," Journal of Policy Modeling, Elsevier, vol. 47(4), pages 723-737.
    3. Yuting BAI & Jun Hyung KIM & Anqi LI & Shiko MARUYAMA & Zhe YANG, 2025. "A House for My Family: The impacts of down payment rate on marriage and fertility," Discussion papers 25056, Research Institute of Economy, Trade and Industry (RIETI).
    4. Wang, Yan & Wang, Xiao & Zheng, Xinyi, 2025. "Does local government debt replacement affect macroeconomics? Evidence from China," International Review of Financial Analysis, Elsevier, vol. 103(C).
    5. Hefan Zheng & Rongjie Zhang & Xinru Yin & Jing Wu, 2025. "Unused housing in urban China and its carbon emission impact," Nature Communications, Nature, vol. 16(1), pages 1-13, December.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;

    JEL classification:

    • F39 - International Economics - - International Finance - - - Other
    • G01 - Financial Economics - - General - - - Financial Crises
    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:imf:imfwpa:2022/196. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Akshay Modi (email available below). General contact details of provider: https://edirc.repec.org/data/imfffus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.