本文關(guān)鍵詞： 土地價(jià)格 土地的競(jìng)爭(zhēng)性需求 抵押渠道 再分配渠道　出處：《復(fù)旦大學(xué)》2014年碩士論文　論文類型：學(xué)位論文

【摘要】：本文通過構(gòu)建一個(gè)帶有企業(yè)信貸約束的隨機(jī)動(dòng)態(tài)一般均衡模型(DSGE),檢驗(yàn)了地產(chǎn)價(jià)格對(duì)宏觀經(jīng)濟(jì)變量的傳遞效應(yīng)。本文假設(shè)在企業(yè)的信貸約束中土地被作為一種抵押資產(chǎn),此時(shí)要定義一個(gè)沖擊,土地價(jià)格絕大部分的可觀波動(dòng)都是由此沖擊造成的。本文的核心機(jī)制是地產(chǎn)價(jià)格的上升導(dǎo)致企業(yè)持有的地產(chǎn)總價(jià)值上漲,企業(yè)信貸擴(kuò)張,從而帶來投資、產(chǎn)出和消費(fèi)的增長(zhǎng)。本文的定量分析驗(yàn)證了這一信貸渠道的存在和擴(kuò)大效應(yīng),土地價(jià)格方面的沖擊由此渠道傳遞至宏觀經(jīng)濟(jì)的波動(dòng)。由于企業(yè)部門是受信貸約束的,所以源于家庭方面的房屋需求沖擊會(huì)觸發(fā)家庭企業(yè)兩部門的需求競(jìng)爭(zhēng),并隨即形成一個(gè)金融螺旋,使土地價(jià)格大幅波動(dòng)的同時(shí),使土地價(jià)格和投資、時(shí)間和消費(fèi)之間產(chǎn)生了顯著的聯(lián)動(dòng)性。
[Abstract]:In this paper, a stochastic dynamic general equilibrium model with enterprise credit constraints is constructed to test the transfer effect of real estate prices on macroeconomic variables. This paper assumes that land is used as a mortgage asset in the credit constraints of enterprises. To define an impact at this point, most of the considerable fluctuations in land prices are caused by this shock. The core mechanism of this paper is that the rise in real estate prices leads to an increase in the total value of real estate held by enterprises, the expansion of enterprise credit, and the resulting investment. The growth of output and consumption. The quantitative analysis of this paper verifies the existence and expansion effect of this credit channel, from which the impact of land prices is transmitted to macroeconomic fluctuations. Since the enterprise sector is constrained by credit, Therefore, the impact of housing demand from the family side will trigger demand competition between the two sectors of the household business, and then form a financial spiral, which will make land prices fluctuate substantially and land prices and investments at the same time. There is a significant linkage between time and consumption.
【學(xué)位授予單位】：復(fù)旦大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：F301;F832.4;F124

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