异质预期条件下房价波动非线性延滞差分方程

梁以德; 徐佳娜; 崔芯

异质预期条件下房价波动非线性延滞差分方程

香港城市大学房屋与建筑系,中国香港

详细信息

作者简介:
梁以德,男,教授,博士(联系人.Tel:+86-852-27887600;Fax:+86-852-27889643;27887612;E-mail:andrew.leung@cityu.edu.hk).

中图分类号: O241.84；O175.4
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出版历程
- 收稿日期: 2005-11-02
- 修回日期: 2007-02-17
- 刊出日期: 2007-06-15

Nonlinear Delay Difference Equations for Housing Dynamics Assuming Heterogeneous BackwardOLooking Expectations

Building and Construction, City University of Hong Kong, P. R. China

摘要

摘要: 通过建立蛛网模型分析经济变动对具有后向预期性质的房地产市场的价格波动的影响．其中，市场需求函数采用简单使用者成本模型，而供给函数则以存量-流量模型为基础．通过建立一组n阶延滞差分方程来分析一类异质后向预期房价波动模型的性质，例如均衡或振荡，收敛或偏离等．结果显示需求弹性小于供给弹性并不是形成振荡的必要条件．房价的波动会随着异质后向预期假设以及其他内生因素的不同而产生本质不同的变化．
- 房价波动 /
- 延滞差分方程 /
- 均衡与振荡 /
- 收敛与扩散
Abstract: This paper aims to analyze the housing price dynamics after an unanticipated economic shock,which was believed to have similar properties with the backward-looking expectation models. The analysis of the housing price dynamics was based on the cobweb model with a simple user cost affected demand and a stockOflow supply assumption.Several n thOorder delay rational difference equations were set up to illustrate the properties of housing dynamics phenomena,such as the equilibrium or oscillations,overshoot or undershoot and convergent or divergent,for a kind of heterogeneous backward-looking expectation models.The results show that demand elasticity is less than supply elasticity is not a necessary condition for the occurrence of oscillation.The housing price dynamics will vary substantially with the heterogeneous backward-looking expectation assumption and some other endogenous factors.
- housing price dynamics /
- delay rational difference equations /
- equilibrium and oscillations /
- convergent and divergent

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参考文献(37)

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异质预期条件下房价波动非线性延滞差分方程

作者简介:
梁以德,男,教授,博士(联系人.Tel:+86-852-27887600;Fax:+86-852-27889643;27887612;E-mail:andrew.leung@cityu.edu.hk).

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Nonlinear Delay Difference Equations for Housing Dynamics Assuming Heterogeneous BackwardOLooking Expectations

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异质预期条件下房价波动非线性延滞差分方程

作者简介: 梁以德,男,教授,博士(联系人.Tel:+86-852-27887600;Fax:+86-852-27889643;27887612;E-mail:andrew.leung@cityu.edu.hk).

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出版历程

Nonlinear Delay Difference Equations for Housing Dynamics Assuming Heterogeneous BackwardOLooking Expectations

计量

出版历程

目录

作者简介:
梁以德,男,教授,博士(联系人.Tel:+86-852-27887600;Fax:+86-852-27889643;27887612;E-mail:andrew.leung@cityu.edu.hk).