An Empirical Study of the Wealth Effect of Real Estate in Different Regions of China——Based on the Time Varying Parameter Analysis of State Space Model
Based on the consideration that whether or not the real estate market could play a positive role in current economic downturn,this paper selects the data from the 1st quarter of 2010 to the 1st quarter of 2016,and uses co-integration test and state space model to compare the wealth effect of the real estate industry of the eastern,western and central region. The conclusion shows the wealth effect of the national and regional is inconsistent,and the wealth effect among the various regions is not the same. Th...