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Does Energy Consumption Drive Housing Sales in China?<br/>—Based on an Optimal Dynamic General Equilibrium Model and Spatial Panel Data Analysis
College of Economics & Management, South China Agricultural University, Guangzhou, China
College of Economics & Management, South China Agricultural University, Guangzhou, China
National School of Agricultural Institution & Development, South China Agricultural University, Guangzhou, China
Division of Resource Management, West Virginia University, Morgantown, WV, USA
- 1 College of Economics & Management, South China Agricultural University, Guangzhou, China
- 2 College of Economics & Management, South China Agricultural University, Guangzhou, China
- 3 National School of Agricultural Institution & Development, South China Agricultural University, Guangzhou, China
- 4 Division of Resource Management, West Virginia University, Morgantown, WV, USA
Theoretical Economics Letters·Volume 08 (2018)·Pages 3548–3566·Published 14 November 2018·DOI10.4236/tel.2018.815218
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Abstract
This paper examines the housing sales in China from 2004 to 2015 utilizing an optimal dynamic general equilibrium theoretical framework combined with a macroeconomic model. The spatial panel econometric empirical results suggest that energy consumption has increased housing sales in China. However, since house is considered as a special commodity in China, and housing prices show positive impacts on housing sales.
KeywordsEnergy UseHousing ValuesOptimal Dynamic General EquilibriumSpatial Panel EconometricsChina
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