Study On The Monetary Policy Transmission Mechanism Of Real Estate Prices In Our Country

The main purpose of this paper is to analysis the monetary policy transmission mechanism of real estate prices and put forward specific policy recommendations. Against the characteristics of the subject, the paper uses the combined research methods of theoretical analysis and positive analysis.First of all, this paper describes the basic theory of the monetary policy transmission mechanism. On the one hand, introduces the monetary policy, including ultimate goals, intermediary goals, and tools of monetary policy; on the other hand, introduces the basic principles of the monetary policy transmission, including the monetary and credit channels; finally, introduces the transmission of the monetary policy to the real estate prices and the real estate prices on the real economy conduction.Secondly, this paper carries on theoretical analysis to the monetary policy transmission mechanism of real estate prices. Based on the analysis of the real estate market developments and monetary policy changes, analysis the ways of the monetary policy influences the real estate prices, including interest rate channel and currency channel; then, analysis the ways of the real estate prices impact on the real economy, including the consumption and investment effect.Thirdly, this paper carries on positive analysis to the monetary policy transmission mechanism of real estate prices in our country. On the one hand, analysis the influences of interest rate, money supply and exchange rate on the real estate prices; on the other hand, analysis the influences of the real estate prices on the consumption and investment.Finally, based on the theoretical analysis and positive analysis to the monetary policy transmission mechanism of real estate prices in our country, this paper puts forward the policy proposal in order to perfect the monetary policy transmission mechanism of real estate prices, improve transmission efficiency.