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政大機構典藏 > 社會科學學院 > 地政學系 > 期刊論文 > Item 140.119/69511

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/69511

Title:	Investment Demand and Housing Prices in an Emerging Economy
Authors:	張金鶚 Chang,Chin-oh
Contributors:	地政系
Date:	2011.08
Issue Date:	2014-09-01 17:48:08 (UTC+8)
Abstract:	This paper hypothesizes that the increase in money supply induced by rapid economic growth leads to strong investment demand in the Taiwanese housing market. A threshold model is used to confirm money supply as the key threshold variable. When the growth rate of money supply is below the model`s estimated threshold value, household number, income, and user cost of housing capital are significant variables. It appears that service demand and housing supply are essential in creating the linear movement of housing prices. However, when the growth rate of money supply exceeds the threshold value, stock prices and the inflation rate become important. These findings suggest that non-linear movement of housing prices is primarily driven by investment demand.
Relation:	Journal Real Estate of Research, 34(2), 345-374
Data Type:	article
Appears in Collections:	[地政學系] 期刊論文

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