Research On The Impact Of Money Supply On China's Realestate Prices

China's real estate market rather late, but rapid development, level of development in some places more than the developed countries level of development, China's economic development has become an important industry. However, the rapid development of the real estate industry, housing prices rising in some places more than the purchasing power of the people, how to control house prices have become the focus of the parties. As the real estate industry is capital-intensive industries, the state regulation of money supply by way of affecting the real estate market, the amount of funds that may be enough to achieve some intended effect. Because of excess liquidity and asset price inflation (especially property prices) is the current world economy, the two outstanding issues, while money supply is the mobility market and a key factor in the money market equilibrium price of real estate is an important component of asset prices the two may exist a close relationship. To answer this central question is the money supply on real estate prices, what kind of impact? Which level of major?This real estate prices in monetary policy and the scope of this large literature review based on the theory of monetary policy transmission and control tools for a brief review, in the cointegration model and the theory was introduced; in the third chapter of the Currency supply affect real estate prices detailed analysis of ways; after the provinces in the country on the basis of the data, using Eviews3.1 on the money supply and real estate prices, cointegration analysis shows that the three levels of money supply the price of real estate there short and long term equilibrium, which was carried out by regulating the money supply in China's approach provides a theoretical basis; re-examined using the panel data model of regional differences in different regions of different levels, which also shows in the development of our country Macroeconomic policies must take account of local differences, combined with local policy.Main innovation of this paper is the analysis of money supply on real estate prices affect regional analysis, because the real estate industry, China's money supply and spread it at the level of money supply are highly correlated, the use of real estate money money money supply instead of supply to solve regional money supply is not possible to quantify the problem, the money supply for the region and the relationship between the price of real estate feasibility study. This is the first time in the person using the panel data model to analyze the impact of money supply on real estate prices regional differences.