供给侧改革视角下我国房地产市场财富效应研究

Research on Wealth Effect of Real Estate Market from Supply Side Revolution Perspective

需求和供给是经济学最为基础的概念,与之相对应的改革被称之为需求侧改革和供给侧改革。笔者对需求侧改革和供给侧改革的理论分别进行了简要综述,对我国房地产市场财富效应进行了实证检验,得出了房地产资产财富对居民消费支出的影响并不显著的重要结论,从供给侧结构性改革的角度分析了我国不存在房地产市场财富效应的根源所在以及房地产价格变化对消费行为产生负面影响的深层次原因。

Demand and supply are two basic concepts in economics,and the corresponding reform is called demand side reform and supply side reform. This paper generally summarizes the theory of demand side structural reform and supply side structural reform. And then it examines the wealth effects in real estate market through empirical evidence. It draws a conclusion that there is no wealth effect in the real estate market and it analyzes the deep reason why the house prices change had a negative effect on consumption in my country in terms of supply side structural reform.