Heterogeneous Responses of Chinese Cities＇ Housing Prices to Monetary Policies
This works examine the responses of housing prices to the monetary policies in various Chinese cities. Thirty-five large and medium sized Chinese cities are classified into six clusters applying the minimum variance clustering method according to the calculated correlation coefficients between the h...
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| Published in | Communications in theoretical physics Vol. 56; no. 10; pp. 791 - 796 |
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| Main Author | |
| Format | Journal Article |
| Language | English |
| Published |
IOP Publishing
01.10.2011
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| Subjects | |
| Online Access | Get full text |
| ISSN | 0253-6102 |
| DOI | 10.1088/0253-6102/56/4/33 |
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| Abstract | This works examine the responses of housing prices to the monetary policies in various Chinese cities. Thirty-five large and medium sized Chinese cities are classified into six clusters applying the minimum variance clustering method according to the calculated correlation coefficients between the housing price indices of every two cities. Time difference correlation analysis is then employed to quantify the relations between the housing price indices of the six clusters and the monetary policies. It is suggested that the housing prices of various cities evolved at different paces and their responses to the monetary policies are heterogeneous, and local economic features are more important than geographic distances in determining the housing price trends. |
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| AbstractList | This works examine the responses of housing prices to the monetary policies in various Chinese cities. Thirty-five large and medium sized Chinese cities are classified into six clusters applying the minimum variance clustering method according to the calculated correlation coefficients between the housing price indices of every two cities. Time difference correlation analysis is then employed to quantify the relations between the housing price indices of the six clusters and the monetary policies. It is suggested that the housing prices of various cities evolved at different paces and their responses to the monetary policies are heterogeneous, and local economic features are more important than geographic distances in determining the housing price trends. |
| Author | 闫妍 王延颋 朱晓武 |
| AuthorAffiliation | School of Management, Graduate University, Chinese Academy of Sciences, Beijing 100080, China Key Laboratory of Frontiers in Theoretical Physics, Institute of Theoretical Physics, Chinese Academy of Sciences, Beijing 100190, China School of Business, China University of Political Science and Law, Beijing 100088, China |
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| Cites_doi | 10.1007/s11146-006-8271-8 10.1080/10835547.2005.12089719 10.1257/jep.9.4.27 10.1006/jhec.2002.0309 10.1080/10835547.2008.12091211 |
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| DocumentTitleAlternate | Heterogeneous Responses of Chinese Cities＇ Housing Prices to Monetary Policies |
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| Notes | monetary policy, housing price, heterogeneous responses, cluster This works examine the responses of housing prices to the monetary policies in various Chinese cities. Thirty-five large and medium sized Chinese cities are classified into six clusters applying the minimum variance clustering method according to the calculated correlation coefficients between the housing price indices of every two cities. Time difference correlation analysis is then employed to quantify the relations between the housing price indices of the six clusters and the monetary policies. It is suggested that the housing prices of various cities evolved at different paces and their responses to the monetary policies are heterogeneous, and local economic features are more important than geographic distances in determining the housing price trends. YAN Yan , WANG Yan-Ting , and ZHU Xiao-Wu（1School of Management, Graduate University, Chinese Academy of Sciences, Beijing 100080, China 2Key Laboratory of Frontiers in Theoretical Physics, Institute of Theoretical Physics, Chinese Academy of Sciences, Beijing 100190, China 3School of Business, China University of Political Science and Law, Beijing 100088, China） 11-2592/O3 ObjectType-Article-2 SourceType-Scholarly Journals-1 ObjectType-Feature-1 content type line 23 |
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| References | C. Ding (9) 2007; 11 H.C. Romesburg (10) 2004 A. Smith (1) 2005; 11 F. Xiong (4) 2007; 4 T. Zhang (13) 2006; 2 2 W. Miles (3) 2008; 30 G. Marvin (11) 2006; 53 6 (12) 1995 Y.F. Liang (5) 2007; 8 8 F.S. Mishkin (7) 2007 |
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| Snippet | This works examine the responses of housing prices to the monetary policies in various Chinese cities. Thirty-five large and medium sized Chinese cities are... |
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| SubjectTerms | Clusters Correlation analysis Economics Housing Mathematical analysis Policies Trends Variance 中国城市 价格指数 异构 房价 最小方差 相关系数 聚类分析方法 货币政策 |
| Title | Heterogeneous Responses of Chinese Cities＇ Housing Prices to Monetary Policies |
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