The paper studies the problems associated with the construction of price indexes for commercial properties that could be used in the System of National Accounts. Property price indexes are required for the stocks of c...The paper studies the problems associated with the construction of price indexes for commercial properties that could be used in the System of National Accounts. Property price indexes are required for the stocks of commercial properties in the Balance Sheets of the country and related price indexes for the land and structure components of a commercial property are required in the Income Accounts of the country if the Multifactor Productivity of the Commercial Property Industry is calculated as part of the System of National accounts. The paper suggests a variant of the capitalization of the Net Operating Income approach to the construction of property price indexes and uses the one hoss shay or light bulb model of depreciation as a model of depreciation for the structure component of a commercial property.展开更多
China’s government should continue taking measuresto prevent "structural price rises" from becoming "obviousinflation", said Wang Yiming, an expert from the
This paper focuses on the impacts and effects of China’s growth of the three industries and price structural change on the real GDP growth rate.First of all,it presents a new accounting method for decomposing growth ...This paper focuses on the impacts and effects of China’s growth of the three industries and price structural change on the real GDP growth rate.First of all,it presents a new accounting method for decomposing growth rates on the basis of existing accounting method for decomposing growth rates.By using this method,we can identify the impacts and effects of structural changes on the growth rate.The paper uses a new decomposition method to recalculate China’s industry-based real GDP growth rates between 1952 and 2019,focuses on the driving effect of growth of the three industries on the real GDP growth,and the impacts of price structural change on GDP growth rate and the contributin of the growth of the three industries on GDP growth rate.By analysis,this paper shows that between 1952 and 2019 China’s economic growth was mainly driven by the secondary industry,which had contributed to the economic growth by over 50%,the role of the tertiary industry in driving economic growth rose,but that of the secondary industry declined over the time;in the short run,the overall effect of the price structural changes of the three industries has a little impact on the economic growth,but the price change of each industry has strong effects,and the price structural change has signifi cantly changed the effect of the growth of the three industries on the real economic growth;in the long term,the price structural change plays a relatively big hindering effect on economic growth due to the Baumol’s cost disease.展开更多
文摘The paper studies the problems associated with the construction of price indexes for commercial properties that could be used in the System of National Accounts. Property price indexes are required for the stocks of commercial properties in the Balance Sheets of the country and related price indexes for the land and structure components of a commercial property are required in the Income Accounts of the country if the Multifactor Productivity of the Commercial Property Industry is calculated as part of the System of National accounts. The paper suggests a variant of the capitalization of the Net Operating Income approach to the construction of property price indexes and uses the one hoss shay or light bulb model of depreciation as a model of depreciation for the structure component of a commercial property.
文摘China’s government should continue taking measuresto prevent "structural price rises" from becoming "obviousinflation", said Wang Yiming, an expert from the
基金funded by the general project(72073031)of the National Natural Science Foundation of China and the key project(19ZDA069,16ZDA043)of the National Social Science Fund of China.
文摘This paper focuses on the impacts and effects of China’s growth of the three industries and price structural change on the real GDP growth rate.First of all,it presents a new accounting method for decomposing growth rates on the basis of existing accounting method for decomposing growth rates.By using this method,we can identify the impacts and effects of structural changes on the growth rate.The paper uses a new decomposition method to recalculate China’s industry-based real GDP growth rates between 1952 and 2019,focuses on the driving effect of growth of the three industries on the real GDP growth,and the impacts of price structural change on GDP growth rate and the contributin of the growth of the three industries on GDP growth rate.By analysis,this paper shows that between 1952 and 2019 China’s economic growth was mainly driven by the secondary industry,which had contributed to the economic growth by over 50%,the role of the tertiary industry in driving economic growth rose,but that of the secondary industry declined over the time;in the short run,the overall effect of the price structural changes of the three industries has a little impact on the economic growth,but the price change of each industry has strong effects,and the price structural change has signifi cantly changed the effect of the growth of the three industries on the real economic growth;in the long term,the price structural change plays a relatively big hindering effect on economic growth due to the Baumol’s cost disease.
