3.25产业经济学系列讲座第110期
主题：Commodity Price and House Price
时间：3月25日（周一）上午10：00-11：30
教室：史带楼303室
主讲人：Shi Song，Senior lecturer, School of Economics and Finance, Massey University
主持人：陈杰，产业经济学系副教授
主讲人简介：Dr Shi is a senior lecturer at School of Economics and Finance, Massey University, New Zealand. Dr Shi has widely published his research work in top property related journals, including the Journal of Real Estate Research, Journal of Housing Economics, Journal of Property Investment and Finance, etc. He is on the editorial board of Pacific Rim Property Research Journal and has been the board member of Pacific Rim Real Estate Society and Global Chinese Real Estate Congress.
Abstract: This paper studies how commodity price movements have affected the local house prices in Australia and New Zealand, which are heavily dependent on commodity exports, by building a simple and geographically hierarchical empirical model. We find that both direct impacts as well as indirect impacts through macroeconomic variables are important. While commodity price changes function more like “income shocks” rather than “cost shocks”, regional heterogeneity is observed. Differential dynamic responses of local house prices to energy versus non-energy commodity price movements are found. We also compare the results from the conventional approach. Directions for future research are also discussed.
产经系
2013年3月18日
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