Research On The Implementation Effect Of Housing Purchase Restriction Policy From The Perspective Of Game Theory

The housing market is not only a pillar industry for social and economic development,but also a basic industry related to the national economy and the people’s livelihood.Its proportion in China’s total national economy is also increasing.In addition,as a more comprehensive industry,its pulling effect on the upstream and downstream industries is obvious,so the housing market has been receiving much attention during its development.The fluctuation of housing prices not only affects the stable operation of our economy,but also affects the basic lives of the people.Controlling the rise of housing prices within a reasonable range is one of the issues that China’s macro-control policies need to focus on.As a means of regulating housing prices with administrative coercive force,the purchase restriction policy has been widely used in various cities in recent years.The effect of the purchase restriction policy has also become a concern in the field of public policy research.This article attempts to use Xi’an as an example to build a theoretical model from Game Theory,and analyze the game process between relevant stakeholders in the formulation and implementation stages of the purchase restriction policy.In the policy formulation stage,we mainly consider the game between two levels of government.In the implementation phase,in addition to considering two levels of government,we also take housing development companies and buyers as the focus of our game research.The comprehensive analysis of the equilibrium achieved in different game processes will explore what factors will affect the game process in the game process of different game players and further affect the overall implementation of the purchase restriction policy.Finally,through empirical tests,it is concluded that the purchase restriction policy can restrain the rise of housing prices in the short term,and in the long run,the effect is not obvious.An empirical test of the conclusions in the Game Theory model is performed by constructing a vector autoregressive model.First,the model stationary test,autocorrelation test,and finally the irf impulse response function analysis were performed to confirm the correctness of the theoretical model.This articlecreatively combines a game theory model with a vector autoregressive model,and uses Xi’an as a specific research object.It uses a combination of theory and empirical analysis to study the housing market in Xi’an.Corresponding suggestions are put forward in the existing problems.