| 货币政策对房地产价格调控的非对称效应——基于STR模型 |
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| 引用本文： | 赵林海.货币政策对房地产价格调控的非对称效应——基于STR模型[J].技术经济,2013(5):113-120. |
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| 作者姓名： | 赵林海 |
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| 作者单位： | 华侨大学经济与金融学院,福建泉州362021 |
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| 基金项目： | 国家社会科学基金项目“通货膨胀预期异质性研究”（12CJL019）;福建省教育厅A类人文社会科学项目“中国通货膨胀预期异质性的形成演化机理研究”（JA12027S） |
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| 摘 要： | 从货币政策的非对称效应的角度,运用非线性模型——STR模型,探究了中国货币政策与房地产价格的关系。研究结果表明:货币政策对房地产价格的影响确实因所处经济周期阶段的不同而发生变化;货币政策与房地产价格之间存在非线性关系;不同经济增长水平下货币政策对房地产价格的调控效应是不对称的;在调控房地产价格方面,我国货币政策的信贷传导路径比利率传导路径更有效。
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| 关 键 词： | 货币政策 房地产价格 非对称效应 |
Asymmetric Effect of Monetary Policy on Regulation of Housing Price：Based on STR Model |
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| Zhao Linhai.Asymmetric Effect of Monetary Policy on Regulation of Housing Price：Based on STR Model[J].Technology Economics,2013(5):113-120. |
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| Authors: | Zhao Linhai |
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| Institution: | Zhao Linhai (College of Economics and Finance, Huaqiao University, Quanzhou Fujian 362021,China) |
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| Abstract: | From the perspective of the asymmetric effect of monetary policy,this paper uses a nonlinear model, namely STR model to explore the relationship between monetary policy and housing price in China. The result shows as follows ： the impact of monetary policy on housing price really shifts because of different phases in business cycle;the nonlinear relationship between monetary policy and housing price does exist,and the regulation effect of monetary policy on housing price is asymmetric at different economic growth levels;in the regulation of housing price,the credit transmission channel of China＇s monetary policy is more effective than the interest rate transmission channel. |
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| Keywords: | monetary policy housing price asymmetric effect |
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