本文選題：居民金融資產(chǎn)　切入點(diǎn)：房地產(chǎn)價(jià)格　出處：《浙江財(cái)經(jīng)大學(xué)》2014年碩士論文　論文類(lèi)型：學(xué)位論文

【摘要】：居民金融資產(chǎn)以及房地產(chǎn)價(jià)格都是關(guān)系到我國(guó)社會(huì)穩(wěn)定和國(guó)計(jì)民生的重要組成部分，也是國(guó)家宏觀調(diào)控的重點(diǎn)，研究這兩者之間的聯(lián)動(dòng)關(guān)系具有較強(qiáng)的實(shí)踐意義。只有對(duì)居民金融資產(chǎn)和房地產(chǎn)價(jià)格之間的聯(lián)動(dòng)關(guān)系進(jìn)行研究分析，才可以在制定宏觀經(jīng)濟(jì)的政策方面采取適合于當(dāng)時(shí)經(jīng)濟(jì)環(huán)境的措施，將房地產(chǎn)價(jià)格控制在一個(gè)合理水平范圍內(nèi)，，保證經(jīng)濟(jì)持續(xù)、健康發(fā)展。 本文分別從理論層面和實(shí)證層面分析了居民金融資產(chǎn)與房地產(chǎn)價(jià)格之間的相關(guān)關(guān)系。在理論研究層面主要是通過(guò)分別列述前人對(duì)居民金融資產(chǎn)和房地產(chǎn)價(jià)格變動(dòng)影響因素以及財(cái)富效應(yīng)的研究成果，并在其基礎(chǔ)上結(jié)合居民金融資產(chǎn)與房地產(chǎn)價(jià)格與調(diào)控政策的發(fā)展趨勢(shì)和變革狀況，闡述居民收入中的金融資產(chǎn)以及重要的實(shí)物資產(chǎn)——房地產(chǎn)之間的相關(guān)關(guān)系。在實(shí)證方面，本文主要從以下六個(gè)方面對(duì)二者從2000年至2012年的季度數(shù)據(jù)進(jìn)行研究：一是對(duì)時(shí)間序列的基本統(tǒng)計(jì)數(shù)據(jù)進(jìn)行描述，通過(guò)直觀的描述闡述兩者之間的相關(guān)關(guān)系；二是對(duì)時(shí)間序列進(jìn)行單位根檢驗(yàn)，尋找非平穩(wěn)序列；三是進(jìn)行協(xié)整檢驗(yàn)說(shuō)明居民金融資產(chǎn)和房地產(chǎn)價(jià)格之間的長(zhǎng)期穩(wěn)定關(guān)系；四是通過(guò)誤差修正模型彌補(bǔ)短期調(diào)整行為；五是通過(guò)Granger因果檢驗(yàn)考察居民金融資產(chǎn)和房地產(chǎn)價(jià)格之間的因果關(guān)系；六是用脈沖響應(yīng)函數(shù)分別檢驗(yàn)各個(gè)居民金融資產(chǎn)受到一個(gè)沖擊后房地產(chǎn)價(jià)格的變化以及房地產(chǎn)價(jià)格受到一個(gè)沖擊后居民金融資產(chǎn)受到?jīng)_擊的程度。 對(duì)理論和實(shí)證的分析可以如下結(jié)論：手持現(xiàn)金、儲(chǔ)蓄存款、股票和債券都一定程度上與房地產(chǎn)價(jià)格有正相關(guān)的關(guān)系，在因果關(guān)系上，手持現(xiàn)金、儲(chǔ)蓄存款與房地產(chǎn)價(jià)格之間的影響關(guān)系更加密切。在此基礎(chǔ)上本文從微觀和宏觀兩個(gè)視角提出了相應(yīng)的建議。
[Abstract]:Residents' financial assets and real estate prices are important components of social stability and national economy and people's livelihood in China, and are also the focus of the state's macro-control. It is of great practical significance to study the linkage between the two. Only the linkage between financial assets and real estate prices of residents is studied and analyzed. In order to make macroeconomic policies, we can take measures suitable for the economic environment at that time, control the real estate price within a reasonable level, and ensure the sustained and healthy development of the economy. This paper analyzes the correlation between residents' financial assets and real estate prices from the theoretical and empirical aspects. The results of the research on the influence factors and the wealth effect, On the basis of it, the paper expounds the relationship between financial assets in residents' income and real estate, which is an important real estate asset, combining with the development trend and reform situation of residents' financial assets and real estate price and regulation and control policies. This paper mainly from the following six aspects of the two from 2000 to 2012 quarterly data were studied: one is to describe the basic statistical data of the time series, through intuitive description of the relationship between the two; The second is the unit root test of time series, the third is cointegration test to explain the long-term stable relationship between residents' financial assets and real estate prices, the fourth is to make up the short-term adjustment behavior through error correction model. Fifthly, the causality between financial assets and real estate prices is investigated by Granger causality test. Sixthly, the impulse response function is used to examine the change of real estate price and the impact of real estate price. Theoretical and empirical analysis can be concluded as follows: handheld cash, savings deposits, stocks and bonds to some extent have a positive correlation with real estate prices, in causality, hand-held cash, The relationship between savings deposits and real estate prices is more close. On this basis, this paper puts forward corresponding suggestions from the micro and macro perspectives.
【學(xué)位授予單位】：浙江財(cái)經(jīng)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類(lèi)號(hào)】：F832.5;F299.23

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