商品房价格与通货膨胀和居民收入差距的相关性研究

Research on Commercial Housing Prices and Inflation,Residents' Income Gap in China

基于1992-2012年全国的经济数据，对中国居民收入差距、通货膨胀及房地产价格三个变量进行协整分析，并通过建立向量自回归模型和误差修正模型，在估计无约束向量自回归参数的基础上，通过脉冲响应函数研究这三者之间的动态关系。实证分析的结果表明，通货膨胀是收入差距扩大的主要原因，而居民收入差距的拉大和通货膨胀在不同程度上造成了房价的上扬。

Based on China＇s economic data from 1992 to 2012, a co-integration analysis was conducted on commercial housing prices and inflation, residents＇ income gap in China. Then the VAR （Vector Auto-regression） model and error correction model were constructed in an efforts to research into dynamic relations between the said three variables through impulse response function. The result of the empirical analysis indicates that residents＇ income gap is primarily widened because of inflation. The widening of residents＇ income gap together with inflation gives rise to the growth in housing prices.