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An empirical research on the influence of house price on the consumer market based on monthly statistics in Shanghai
- 1 School of Mathematical Sciences, Arizona State University, Phoenix, 85281, United States of America
- 2 School of Sociology, Southeast University, Nanjing, 211189, China
- 3 School of Jin Cheng No.1 Middle School, Shanxi, 048000, China
* Author to whom correspondence should be addressed.
Abstract
Consumption plays a crucial role in people’s daily lives. In recent years, China’s consumer market has faced urgent needs for consumption transformation and heavy pressure from economic downturn. As an important component of everyday consumption and wealth savings, there is a close relationship between changes in house prices and the consumer market. There has been a heated debate in the academic community regarding the positive or negative relationship between the two. The study keeps focus on the changes of consumer market, attempting to reveal the effects of house price has. This article extracts monthly consumption and housing price data in Shanghai from 2014 to 2024, strictly arranges them in chronological order, and uses the ECM model to handle the instability of time series data. The conclusion of this study is that the rise in housing prices can stimulate consumption. Also house prices have a controlling effect on the fluctuations of the consumer market.
Keywords
House price, consumption market, fixed assert
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Cite this article
Liu,X.;Lyu,K.;Wang,Z. (2024). An empirical research on the influence of house price on the consumer market based on monthly statistics in Shanghai. Theoretical and Natural Science,52,10-18.
Data availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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Volume title: Proceedings of CONF-MPCS 2024 Workshop: Quantum Machine Learning: Bridging Quantum Physics and Computational Simulations
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