摘要
负利率的出现是在经济上升时期,通胀率增速超过了名义利率调整而导致实际利率为负的情况,与经济周期密切相关。房地产业属于利率敏感型行业,负利率会导致利率对房地产市场的成本约束失效,刺激房地产市场的扩张。本文研究发现,负利率对于房地产市场需求和价格表现出一定正向扩张效应,而对供给的扩张效应则不显著。
Negative interest rate is the result that inflation is higher than the adjustment of nominal interest rate, and the real interest rate turns to be negative. Negative interest rate could decrease the cost limitation effect and simulate the expansion of real estate market which is sensitive to interest rate. The results show that negative interest has positive effect on the demand and price of real estate, but this effect is not significant on the supply of real estate.
出处
《统计研究》
CSSCI
北大核心
2009年第1期64-70,共7页
Statistical Research
关键词
负利率
房地产市场
扩张效应
Negative interest rate
Real estate market
Expansion effect
