中国经济的疲软和对布雷顿森林体 系的挑战：美方应如何应对

Thomas J. Duesterberg

Mar 1, 2024

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Hudson Institute

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Harnessing Openness to Improve Research, Teaching and Learning in Higher Education

A Report by

the Digital Connections Council of the Committee for Economic Development

工业互联网与经济发展

2018年7月27日

胡 权

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院长兼首席经济学家

工业4.0研究院

工业互联网沙龙公众号

本次演讲为重庆市2018年江北区工业经济管理人才综合素质培训班提供

目 录

一 制造业的经济学原理

二 区域经济的制造业策略

三 互联网+先进制造业

四 工业互联网时代的创新

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Agriculture and Economic Development

Oliver Grant

House Prices and Economic Growth

Norman Miller ⋅ Liang Peng ⋅ Michael Sklarz

Abstract Using quarterly data for all 379 metropolitan statistic areas (MSAs) in the U.S. from 1980:1 to 2008:2, this paper empirically studies the effect of house prices on local Gross Metropolitan Product (GMP). We compare the effects of predictable and unpredictable house price changes, which we use to capture the collateral and wealth effects of house prices respectively. We further analyze the relationship between the effects and household borrowing constraints, as well as the temporal pattern of the effects.

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Our analysis provides the following findings. First, house price changes have significant effects on GMP growth, and the effect of predictable changes (the collateral effect) is about three times stronger than the effect of unpredictable changes (the wealth effect). Second, the persistent component of predictable changes has a stronger collateral effect than the novel component. Third, when households are more financially constrained, the collateral effect is stronger, the wealth effect is weaker, and the total effect remains unchanged. Finally, the effects last for eight quarters, and peak on the fourth quarter after house price changes take place.

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How do rising house prices affect the local economy?

World Economic Forum

The Role of Housing in the Economy

A Final Report by

Regeneris Consulting and Oxford Economics

Housing and economic development: Moving forward together

Catherine Glossop