可支配收入、收入差距与商品房价格的关系——以浙江为例

Study on the Relationship between the Disposable Income, Income gap and Housing Price——An Empirical Study of Zhejiang Province

基于浙江1991-2011年商品房价格与城镇居民收入数据,运用VAR模型、脉冲响应函数以及方差分解方法,研究居民可支配收入、收入差距与商品房价格之间的关系。结果表明,商品房价格上涨是收入差距扩大的格兰杰原因,而收入差距并不是房价上涨的格兰杰原因。房价上涨对低、中、高收入群体可支配收入有着不同影响,而中、高收入群体则是房价上涨的支撑力量。

Illustrates the relationship between the disposable income, the income gap and the housing price by the VAR model, the impulse response function and variance decomposition method, which is based on the data of housing price and peoples income in Zhejiang from 1991 to 2011. The result shows that housing price is Granger cause of the income gap, but the income gap isn＇t Granger cause of housing prices. Housing price has different effects on the dispos- able incomes of low-income, medium-income and high-income groups. However, the medium-income and the high-in- come are the forces that support the rise of housing price.