房地产业与经济高质量发展的相互关系

Mengwan Zhang, Fengfeng Gao, Jialin Gao, Weiguo Chen, Chong Aik Lee
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引用次数: 0

摘要

摘要基于2001 - 2020年中国房地产投资(REI)、商品房销售(CHS)和GDP数据,研究了中国房地产与经济的依赖关系、不对称性及其传导方向。通过深度互相关分析(DCCA)算法、多重分形非对称去趋势互相关分析(MF-ADCCA)算法和基于时延的DCCA算法来论证它们的相互关性。REI和CHS都与GDP有持续性。房地产业与经济具有不对称多重分形特征。同时,房地产和经济具有不同的走势,它们可以以相同的时滞相互影响。这种影响在短时间内逐渐减弱,长期内相互关联持续性存在不稳定波动。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
The Cross-Correlation Relationship Between the Real Estate Industry and High-Quality Economic Development
Abstract Based on China’s real estate investment (REI), commercial housing sales (CHS), and GDP data from 2001 to 2020, we studied the dependence, asymmetry, and transmission direction of China’s real estate and economy. Their cross-correlation is demonstrated through the deep cross-correlation analysis (DCCA) algorithm, multifractal asymmetric detrended cross-correlation analysis (MF-ADCCA) algorithm and DCCA algorithm based on a time delay. Both REI and CHS have persistence with GDP. The real estate industry and economy have asymmetric multifractal characteristics. Meanwhile, real estate and the economy have different trends, and they can affect each other with the same length of time delay. This effect diminishes in a short period of time, and there are unsteady fluctuations in cross-correlation persistence in the long term.
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