CAJ | 학술논문

文章将传统的房地产财富效应分析拓展至研究房价对于消费结构和贫富差距的影响层面。以商品房销售价格、房价偏离度、贫富差距及消费结构差异为基础数据，采用回归分析与Granger因果关系检验的方法，探讨房价作用于消费结构进而影响到社会贫富差距这一传导机制。文章认为，房价不合理上涨会显著地加剧贫富差距状况，而贫富差距也是房价不合理上涨的Granger因，二者总体上存在着恶性循环；房地产价格对于不同收入阶层、不同消费支出项目的财富效应、替代效应差异较大。而且文章通过对消费结构差异与贫富差距的作用形式的分析，得出结论：私人消费差异对于贫富差距的影响大于公共消费差异，且私人消费差异与贫富差距存在双向的Granger因果关系。
문장장전통적방지산재부효응분석탁전지연구방개대우소비결구화빈부차거적영향층면。이상품방소수개격、방개편리도、빈부차거급소비결구차이위기출수거，채용회귀분석여Granger인과관계검험적방법，탐토방개작용우소비결구진이영향도사회빈부차거저일전도궤제。문장인위，방개불합리상창회현저지가극빈부차거상황，이빈부차거야시방개불합리상창적Granger인，이자총체상존재착악성순배；방지산개격대우불동수입계층、불동소비지출항목적재부효응、체대효응차이교대。이차문장통과대소비결구차이여빈부차거적작용형식적분석，득출결론：사인소비차이대우빈부차거적영향대우공공소비차이，차사인소비차이여빈부차거존재쌍향적Granger인과관계。
This article goes further on the traditional analysis of real estate wealth effect ,which broaden the research to extent to real estate price influences on gap of wealth .Methods ,including regression analysis as well as Granger Causality test ,are adopted to discuss a transmission mechanism that real estate price impacts on consumption structure ,and then affects gap of wealth ,with the basic data about commodity houses sale price ,deviation between real estate price and income ,gap of wealth and the difference of con-sumption structure .According to empirical results ,on the one hand ,real estate price increasing unreason-ably will aggravate the condition of gap of wealth ,on the other hand ,gap of wealth is the Granger Causali-ty of soaring real estate price .In other words ,these two variables slip into a vicious circle .Also ,results supports that real estate price wealth effect and substitution effect ,are both diversity from different in-come status and consumption items .At last ,this article analyses the mode of action between consumption structure difference and gap of wealth .Research tells us that the extent to which private consumption difference influences gap of wealth ,is more significant than public consumption difference ,while there is a two-way Granger Causality between private consumption structure and gap of wealth .