Securitised Real Estate and Private Dwellings: International and Domestic Linkages and Implications for the Macroeconomy.

证券化房地产和私人住宅：国际和国内联系以及对宏观经济的影响。

• 批准号: DP0556371
• 负责人: Prof Renee Fry-McKibbin
• 金额: $ 7.29万
• 依托单位: The Australian National University
• 依托单位国家: 澳大利亚
• 项目类别: Discovery Projects
• 财政年份: 2005
• 资助国家: 澳大利亚
• 起止时间: 2005-01-01 至 2008-12-31
• 项目状态: 已结题
• 来源: https://dataportal.arc.gov.au/RGS/Web/Grants/DP0556371
• 关键词: Securitised; Real; Estate; Private; Dwellings

Cycles in the housing market and its interaction with other economic and financial market variables may have enormous effects on the Australian economy. Despite this there is little research on the interactions between housing and the macroeconomy. This project examines these issues. The implications of the research extend to three broad areas. The first is monetary policy by understanding housing prices, inflation and interest rates linkages. Second, constructing formal models including housing may provide a means of testing the implications of policies such as the first home owner grant or reductions in housing specific taxes. Finally, financial markets may benefit by understanding of the role of property in a diversified portfolio.

房地产市场的周期及其与其他经济和金融市场变量的相互作用可能对澳大利亚经济产生巨大影响。尽管如此，关于住房和宏观经济之间相互作用的研究却很少。本项目探讨了这些问题。这项研究的影响延伸到三个广泛的领域。首先是货币政策，理解房价、通胀和利率之间的联系。其次，构建包括住房在内的正式模型可以提供一种方法来测试政策的影响，例如首次住房所有者补助金或住房特定税的减少。最后，金融市场可以通过理解房地产在多元化投资组合中的作用而受益。