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Effect Analysis Over the Stock Market to Housing Disbursement

机译:股市对住房支出的影响分析。

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摘要

First, this article looked back upon the channels that the stock market affects the real estateȁ9; s disbursement and made a brief literature summary on the effect that the stock market brings about to the real estateȁ9; s disbursement. Next, the article put up a linear model on the basis of Modigliani life cycle model, which shows the stock marketȁ9; s effect on the real estateȁ9; s disbursement, and carried on empirical analysis over the examples from the year 1997 to 2007, which indicates the effect of the stock priceȁ9; s growth on the real estateȁ9; s disbursement is not linear, unstable and not sustainable. So the article thinks that the root lies in the stock marketȁ9; s frequent vibration, high ratio of stock throw-over, and the lack of conditions on ȁC; the permanent income hypothesisȁD;.
机译:首先,本文回顾了股票市场影响房地产的渠道[9]。支出,并对股市对房地产的影响进行了简要的文献综述[9];的支出。接下来,本文在Modigliani生命周期模型的基础上建立了线性模型,该模型显示了股票市场9。对房地产的影响ȁ9;支出,并对1997年至2007年的例子进行了实证分析,表明股价的影响是9英镑;房地产的增长ȁ9;支出不是线性的,不稳定的和不可持续的。因此,文章认为其根源在于股票市场ȁ9。频繁的振动,高的库存流失率和缺乏ȁC的条件;永久收入假说ȁD;

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