Potential Impact of Land Policy Change and Population Ageing on House Price Volatility
Journal: Modern Economics & Management Forum DOI: 10.32629/memf.v5i2.1988
Abstract
Based on the relationship between China's population aging, land policy changes and housing prices, as well as relevant domestic and foreign literature, this paper discusses the impact of China's population aging and land policy changes on housing prices, and constructs related variables and VEC models to further study the dynamic correlation between the three aspects. The empirical results show that in the long run, China's population aging and the increase in land finance will increase the risk of decreasing house prices. In the short term, the population aging has a negative impact on housing prices, which is more significant than the long-term impact, and the inhibitory effect of the land policy rise on housing prices in the short term will not appear.
Keywords
population aging, land finance, VEC model
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