| 中国股票市场与房地产市场泡沫问题研究 |
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| 引用本文： | 解保华,李彬联,石立.中国股票市场与房地产市场泡沫问题研究[J].上海财经大学学报,2009,11(1):64-71. |
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| 作者姓名： | 解保华 李彬联 石立 |
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| 作者单位： | 解保华,XIE Bao-hua(广东商学院,国民经济研究所,广东,广州,510320);李彬联,LI bin-lian(中山大学,岭南学院,广东,广州,510275);石立,SHI Li(广东商学院,华商学院,广东,广州)
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| 摘 要： | 本文针对近年来中国股票市场泡沫问题和房地产市场的泡沫问题这两个市场的具体情况,分别采用简化的F-O模型测度中国股票市场的泡沫度和成本加成定价模型测度房地产市场的泡沫度,得出1999-2007年我国这两个市场近9年来的月度泡沫估计值;通过对两个市场的泡沫度的对比分析,我们发现股票市场的泡沫度比房地产市场的波动更大;房地产市场泡沫并不是导致股票市场泡沫的原因;而股票市场泡沫却是房地产市场泡沫产生的原因.
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| 关 键 词： | 股票市场 房地产市场 泡沫度 F-O模型 成本加成定价模型 |
Research on Bubbles of Stock Market and Real Estate Market in China |
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| XIE Bao-hua,LI bin-lian,SHI Li.Research on Bubbles of Stock Market and Real Estate Market in China[J].Journal of Shanghai University of Finance and Economics,2009,11(1):64-71. |
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| Authors: | XIE Bao-hua LI bin-lian SHI Li |
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| Institution: | 1.Institute of National Economy;Guangdong University of Business Studies;Guangzhou 510320;China;2.Lingnan College;Sun Yat-sen University;Guangzhou 510275;3.Huashang College;China |
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| Abstract: | In view of the real situation of stock market and real estate market in recent years,the paper measures bubble levels of stock market and real estate market,respectively by simplified F-O model and cost-plus pricing model,and obtains the monthly estimated bubble levels of these two markets from 1999 to 2007.Through a comparative analysis of bubble levels of these two markets,the fluctuation of bubble level on stock market is larger than the fluctuation of bubble level on real estate market.The bubble of rea... |
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| Keywords: | stock market real estate market bubble level F-O model cost-plus pricing model |
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