House price and household consumption in China: evidence from micro-level data

Yuan, Xiao; Shen, Yinjie; Zhou, Haigang

doi:10.1108/ijhma-10-2019-0103

Cited by 5 publications

(3 citation statements)

References 56 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Therefore, this study takes the price level of consumer goods as the exogenous variable of the ARMAX model. Some scholars have noticed that house price fluctuations will have a huge impact on residential consumption, and house purchase costs will squeeze households' consumption of other commodities [44]. However, in China's official statistics, the consumer price index representing the price level of consumer goods already includes house prices, so this study will no longer take house prices as a separate exogenous variable.…”

Section: Variables and Data Sourcementioning

confidence: 99%

The Impact of Climate Change Risks on Residential Consumption in China: Evidence from ARMAX Modeling and Granger Causality Analysis

Niu

2022

IJERPH

View full text Add to dashboard Cite

Estimating the impact of climate change risks on residential consumption is one of the important elements of climate risk management, but there is too little research on it. This paper investigates the impact of climate change risks on residential consumption and the heterogeneous effects of different climate risk types in China by an ARMAX model and examines the Granger causality between them. Empirical results based on monthly data from January 2016 to January 2019 suggest a significant positive effect of climate change risks on residential consumption, but with a three-month lag period. If the climate risk index increases by 1 unit, residential consumption will increase by 1.29% after three months. Additionally, the impact of climate change risks on residential consumption in China mainly comes from drought, waterlogging by rain, and high temperature, whereas the impact of typhoons and cryogenic freezing is not significant. Finally, we confirmed the existence of Granger-causality running from climate change risks to residential consumption. Our findings establish the linkage between climate change risks and residential consumption and have some practical implications for the government in tackling climate change risks.

show abstract

Section: Variables and Data Sourcementioning

confidence: 99%

The Impact of Climate Change Risks on Residential Consumption in China: Evidence from ARMAX Modeling and Granger Causality Analysis

Niu

2022

IJERPH

View full text Add to dashboard Cite

show abstract

“…Housing prices and air quality are two topics closely related to people's lives, and they are also popular topics among scholars. For research of housing prices, scholars focus mainly on population mobility [1], household consumption [2], enterprise development [3], and education development [4]. At the same level, the research field is relatively broad, and the results are also relatively richer.…”

Section: Introductionmentioning

confidence: 99%

Unleashing the Casual Impact of House Prices on Air Quality: Evidence from Chinese Cities

Zeng,

Fahad,

Wang

et al. 2023

Indoor Air

View full text Add to dashboard Cite

With the rapid development of the real estate industry in China, urban air quality is inevitably affected. By using data of Chinese cities located in the Yangtze River Delta from 2009 to 2018, this paper is aim at examining the casual impact of house prices on air quality. By considering the endogenous problems, in this study, first, the birth rate of the previous six years and the area of state-owned land supply per capita in the previous year are taken as instrumental variables of house price. Second, the two-stage least squares method is used to assess the causal impact of house price on air quality. The findings of this study show that there is no significant relationship between urban house prices and air quality, and these results are obtained without considering the endogenous problem. While, after considering the endogenous problem, urban house prices showed a significant negative effect on overall air quality, especially for low administrative level cities. The increase in house prices has hindered the improvement of air quality mainly through the blind-scale expansion of real estate development investments and the inhibitory effect of innovation.

show abstract

“…For example, the government can give a first-time homebuyer subsidy to encourage individuals to purchase a home. A more enticing return-risk relationship can be formed in the housing market (Yuan, Shen, & Zhou, 2020).…”

Section: Introductionmentioning

confidence: 99%

The Influence of Macroeconomic Factors on Residential Property Prices in Malaysia Before and During COVID-19

Isyanto

Zulkarnain

Nawi

2022

Binus Business Review

View full text Add to dashboard Cite

The macroeconomic environment directly and significantly impacts a country’s economy. For example, residential property prices in Malaysia have steadily increased in recent years. It has become a significant issue during the COVID-19 pandemic since a home is one of the essential items for each living human being. The research identified a few macroeconomic factors, such as Gross Domestic Product (GDP), private consumption, government expenditure, and household saving which influenced Malaysian residential property prices. The research applied a regression model to analyse the data to encounter the uncertainty problem related to Beaver univariance analysis. All data were collected by the Department of Statistics Malaysia, the National Property Information Centre (NAPIC), The World Bank Data, and other data streams. Then, the research was tested using the time series method to predict and forecast the model. Based on the findings, the research shows that the distribution data for all variables are not normal. Overall, the variables are significant using the time series regression with the level of significance at 1%, 5%, and 10%. All variables tend to have a positive impact on residential property prices. The findings have significant policy consequences. Hence, it is critical to understand the pathways through which housing influences the economy to develop beneficial policies, as housing price declines are frequently cited as the primary constraint on household expenditure.

show abstract

House price and household consumption in China: evidence from micro-level data

Cited by 5 publications

References 56 publications

The Impact of Climate Change Risks on Residential Consumption in China: Evidence from ARMAX Modeling and Granger Causality Analysis

The Impact of Climate Change Risks on Residential Consumption in China: Evidence from ARMAX Modeling and Granger Causality Analysis

Unleashing the Casual Impact of House Prices on Air Quality: Evidence from Chinese Cities

The Influence of Macroeconomic Factors on Residential Property Prices in Malaysia Before and During COVID-19

Contact Info

Product

Resources

About