CAJ | 학술논문

本文使用中国城镇住户调查数据，分析了房价对城镇居民消费的影响。平均而言，房价显著抑制了消费，且该抑制效应在不同群体间差异明显。有未婚男性的家庭，或者已经有房的家庭，特别是现有住房价值较低的家庭，房价对消费的抑制效应更强。房价对消费抑制效应的异质性与家庭购房行为的差异相一致。有未婚男性的家庭，或者上一年有房的家庭，特别是上一年住房价值偏低的家庭购房的可能性更高，上一年住房价值较高的家庭购买两套房的可能性更高。
본문사용중국성진주호조사수거，분석료방개대성진거민소비적영향。평균이언，방개현저억제료소비，차해억제효응재불동군체간차이명현。유미혼남성적가정，혹자이경유방적가정，특별시현유주방개치교저적가정，방개대소비적억제효응경강。방개대소비억제효응적이질성여가정구방행위적차이상일치。유미혼남성적가정，혹자상일년유방적가정，특별시상일년주방개치편저적가정구방적가능성경고，상일년주방개치교고적가정구매량투방적가능성경고。
China＇s housing prices have been rising over time in recent years, so investigating how housing prices movements affect household consumption has important policy implications. We found that housing prices had a significantly negative impact on the consumption in China. Moreover, households with unmarried single man, homeowners, especially homeowners with a poor living condition save more in reaction of rising house prices. In addition, this finding is consistent with heterogeneity in propensity of housing purchasing. The groups who con- sume less are more likely to buy houses in response to rising house prices.