|
| Variable category | Variable | Symbol | Interpretation |
|
| The explained variable | Rent-income ratio | RENT/INC | Average rental price/per capita disposable income |
| The core interpretation variable | Central subsidies | TRSN | Special transfer payments for the central budget |
| The mediation variable | Local implementation efforts | EXP | Local housing security budget expenditure |
| Real estate residential investment | INVEST | Real estate residential investment amount |
| Housing rental pilot city | TEST | Whether it is a housing rental |
| Controlling variables | Local actual GDP | GDP | GDP |
| Resident consumer price index | CPI | CPI |
| Total resident provident fund | FUND | Total resident provident fund |
| Financial institution loan balance | LOAN | Balance of RMB loans of financial institutions |
|
| Variable category | Unit of variable | Description |
|
| The explained variable | Yuan/one thousand yuan | Residents’ rental preference |
| The core interpretation variable | One hundred million yuan | Central government support efforts |
| The mediation variable | One hundred million yuan | Local implementation efforts |
| One hundred million yuan | Activity of local real estate market |
| Virtual variable | Impact of the pilot housing rental policy |
| Controlling variables | Ten billion yuan | Local economic development level |
| — | Local inflation levels |
| One hundred million yuan | Other income conditions of the residents |
| Ten billion yuan | Activity of local financial |
|
