期刊文献+

我国资产价格财富效应的比较分析

下载PDF
导出
摘要 近年来,我国资产价格变动幅度比较大,表现在股票价格的大涨大跌,以及房地产市场价格的快速上涨。资产价格的变动势必影响居民持有的金融财富和房地产财富的变动,进而影响消费的变动。本文从资产价格角度,通过对股价和房价的财富效应的分析与考察,以此检验能否通过促进股票市场和房地产市场的合理发展来拉动消费。实证结果表明,我国房地产市场存在微弱的财富效应,股票市场存在显著的负财富效应。
作者 常龙
出处 《北方经济》 2012年第12期6-7,共2页 Northern Economy
  • 相关文献

参考文献6

  • 1Campell, J. Y. & Cocco, J. How do house prices affects consumption? Evidence from micro data [ J ]. Journal of Monetary Economics, 2007 ( 54 ).
  • 2Carroll, C. D. & Otsuka, M. & Slacalek J. How large are housing and financial wealth effects? A New Approach [ J ]. Journal of Money, Credit, and Banking , 2011 (1).
  • 3Case, K.E., R. J. Shiller & J. M. Quigley. Comparing wealth effects-the stock market versus the housing market[J]. NBER Working Paper, 2001 ( 6 ).
  • 4Charles, G & Tuomas, A. P.. Housing and Equity Wealth Effects of Italian Households [ J ].DNB Working Paper, 2005 (43).
  • 5卢嘉瑞,朱亚杰.股市财富效应及其传导机制[J].经济评论,2006(6):36-44. 被引量:34
  • 6骆祚炎,刘朝晖.资产结构、收入结构与股市财富效应[J].财经科学,2004(4):10-14. 被引量:12

二级参考文献29

  • 1王开国.利用证券市场促进经济发展.金融与保险,2000,(11).
  • 2Milton. Friedman, A Theory of the Consumption Function,Princeton University Press, Princeton, 1957.
  • 3Modighani, F. and Brumberg, R.,1954, Utility Analysis and the Consumption Function: An Interpretation of Cross-Section Data, Post-Keynesian Economics, 388-436, Rutgers University Press.
  • 4James. M. Poterba, Stock Market Wealth and Consumption, Journal of Economic Perspectives - Volume 14 , Number2-Spring, 2000, 99-118.
  • 5约翰·伊特韦尔.新帕尔格雷夫经济学辞典(OZ)[M].北京:经济科学出版社,1992-6..
  • 6《新帕尔格雷夫经济学大辞典》,中文版,第4卷,955页,北京,经济科学出版社,1996
  • 7Pigou, A. C., 1943. "The Classical Stationary State."Economic Journal, 83, December, pip. 343 - 351.
  • 8Ludvigson, Sydney- and Steindel, Charles, 1999. "How Important is the Stock Market Effect on Consumption?" Federal Reserve Bank of New York Economic Policy Review, 5, No. 2(July), pp.29- 52.
  • 9Start - McCluer, Martha, 1998. "Stock Market Wealth and Consumer Spending." Board of Governors of the Federal Reserve System. Finace and Economics Discussion Series, No. 1998/20.
  • 10Tan, Alvin and Voss, Graham, 2000. "Consumption and Wealth. "Research Discussion Paper, December, Economic Research Department Reserve Bank of Australia.

共引文献44

相关作者

内容加载中请稍等...

相关机构

内容加载中请稍等...

相关主题

内容加载中请稍等...

浏览历史

内容加载中请稍等...
;
使用帮助 返回顶部