کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5103346 1480104 2017 8 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Population growth, interest rate, and housing tax in the transitional China
ترجمه فارسی عنوان
رشد جمعیت، نرخ بهره و مالیات مسکن در چین انتقالی
کلمات کلیدی
رشد جمعیت، نرخ بهره، قیمت مسکن، مالیات مسکن،
موضوعات مرتبط
مهندسی و علوم پایه ریاضیات فیزیک ریاضی
چکیده انگلیسی
This paper combines and develops the models in Lastrapes (2002) and Mankiw and Weil (1989), which enables us to analyze the effects of interest rate and population growth shocks on housing price in one integrated framework. Based on this model, we carry out policy simulations to examine whether the housing (stock or flow) tax reduces the housing price fluctuations caused by interest rate or population growth shocks. Simulation results imply that the choice of housing tax tools depends on the kind of shock that housing market faces. In the situation where the housing price volatility is caused by the population growth shock, the flow tax can reduce the volatility of housing price while the stock tax makes no difference to it. If the shock is resulting from the interest rate, the policy maker should not impose any kind of the housing taxes. Furthermore, the effect of one kind of the housing tax can be strengthened by that of the other type of housing tax.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Physica A: Statistical Mechanics and its Applications - Volume 469, 1 March 2017, Pages 305-312
نویسندگان
, ,