| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w18000 |
| 来源ID | Working Paper 18000 |
| Status Competition and Housing Prices | |
| Shang-Jin Wei; Xiaobo Zhang; Yin Liu | |
| 发表日期 | 2012-04-17 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | While in standard housing economics housing is regarded as an asset and a consumption good, we study in this paper the consequences for housing prices if housing is also a status good. More concretely, if a family's housing wealth relative to others is an important marker for relative status in the marriage market, then competition for marriage partners might motivate people to pursue a bigger and more expensive house/apartment beyond its direct consumption (and financial investment) value. To test the empirical validity of the hypothesis, we have to overcome the usual difficulty of not being able to observe the intensity of status competition. Our innovation is to explore regional variations in the sex ratio for the pre-marital age cohort across China, which likely has triggered variations in the intensity of competition in the marriage market. The empirical evidence appears to support this hypothesis. We estimate that due to the status good feature of housing, a rise in the sex ratio accounts for 30-48% of the rise in real urban housing prices in China during 2003-2009. |
| 主题 | Financial Economics ; Portfolio Selection and Asset Pricing ; Regional and Urban Economics ; Real Estate |
| URL | https://www.nber.org/papers/w18000 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/575676 |
| 推荐引用方式 GB/T 7714 | Shang-Jin Wei,Xiaobo Zhang,Yin Liu. Status Competition and Housing Prices. 2012. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w18000.pdf（960KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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