CAJ | 학술논문

基于扩展的动态资本市场模型, 本文运用2002-2012年我国30个省市区的数据探讨公共支出结构对住宅价格的影响. 研究发现: 不同地区的公共支出结构对住宅价格的影响程度存在显著区域性差异; 公共支出结构对住宅价格的影响为正向显著的0. 051 , 表明公共支出结构系数平均每提高1 个单位, 住宅价格相应上涨5. 1%; 公共支出结构系数平方项的系数为-0. 001 ,意味着公共支出结构与住宅价格之间保持倒U型关系; 当支出比重不超过特定值时, 公共支出结构与住宅价格之间保持同向变动关系, 两者超过特定值时会保持负向关系.
기우확전적동태자본시장모형, 본문운용2002-2012년아국30개성시구적수거탐토공공지출결구대주택개격적영향. 연구발현: 불동지구적공공지출결구대주택개격적영향정도존재현저구역성차이; 공공지출결구대주택개격적영향위정향현저적0. 051 , 표명공공지출결구계수평균매제고1 개단위, 주택개격상응상창5. 1%; 공공지출결구계수평방항적계수위-0. 001 ,의미착공공지출결구여주택개격지간보지도U형관계; 당지출비중불초과특정치시, 공공지출결구여주택개격지간보지동향변동관계, 량자초과특정치시회보지부향관계.
Based on the extended dynamic capital market model, this paper uses data of 30 provinces from 2002 to 2012 to investigate the effects of the public expenditure structure on housing prices. This study finds that the impact of the public expenditure structure on housing prices is significant in different regions; the impact of public expenditure struc-ture of housing prices is positive significant 0. 051, indicating that the structure of public spending increases a coeffi-cient per unit, housing prices will rise 5. 1%;the coefficient squared term of public expenditure structure is -0. 001, which means the relationship between public spending structure with housing prices remain inverted U-shaped; when the proportion of the expenditure does not exceed a certain value, public expenditure structure and housing prices main-tain the same relationship, once it exceeds a certain value, they will maintain negative relationship.