货币政策背景下房价的变动关系研究

House price's floating relation research under curreny policy background

本文在货币政策传导理论的基础上,通过向量误差修正模型(VECM)实证分析了房价在货币政策传导过程中的作用。通过分析可知,房价在货币政策传导过程中起到了一定的作用,房价渠道的传导效率整体而言比较高,由此而知货币政策和房价之间存在着一定程度的关系。

this paper in the monetary policy transmission theory basis,through the vector error correction model（VECM） empirical analysis the price in the monetary policy transmission processes.The analysis reveals,house prices in the monetary policy transmission process has played a role,house prices channel of transmitting efficiency,thus the whole higher knowledge of monetary policy and house prices exist between a certain degree of relationship.