【摘要】 改革开放以来,江苏地区房地产业已经发展成为国民经济重要产业,商品住房价格总体呈现上涨态势,城镇家庭住房私有化率持续提高。研究利用1997-2014年的年度数据,对江苏省城镇居民消费、收入和住房资产等建立计量模型进行实证,结果表明,由于房价上涨导致的住房资产增加对城镇居民消费产生了挤出效应,江苏城镇居民的住房资产缺乏财富效应。只有提高居民收入水平,稳定商品住房价格,化解消费后顾之忧,加快消费金融创新,才能促进经济的可持续增长。更多还原

【Abstract】 Western economic scholars believe that house assets are of wealth effect. Based on the yearly data ranging from 1995 to 2014, the paper constructs models by consumption, income and housing assets of Jiangsu urban residents.Cointegration model is used to analyze the long-term equation of housing assets and consumption, and results indicate that the rising real estate price causes a negative influence on the consumption, and there is no wealth effect in the estate market of Jiangsu. Measures should be taken to increase the income of residents, stabilize housing price, stimulate consumption and develop economy.更多还原