The Correlation between Monetary Policy and Housing Price Change Based on a VAR Model

<table class="table-group" id="tab1"><tr><td><table class="table"><tr><td class="thead-hr" colspan="3"><hr/></td></tr><tr class="thead"><td class="align_left">Variable symbol</td><td class="align_center">Variable name</td><td class="align_center">Variable interpretation</td></tr><tr><td class="thead-hr" colspan="3"><hr/></td></tr><tr><td class="align_left">LNY</td><td class="align_center">Real estate prices</td><td class="align_center">The logarithm of the China property sales price index</td></tr><tr><td class="align_left">LNX1</td><td class="align_center">Lending rate</td><td class="align_center">Logarithm of the 5-year loan benchmark interest rate</td></tr><tr><td class="align_left">LNX2</td><td class="align_center">Money supply</td><td class="align_center">Generalized money supply M2</td></tr><tr class="table-tr"><td colspan="3"><hr class="tbody-hr"/></td></tr></table></td></tr><tr class="table-fn"><td><div>Source: summarized above.<br/></div></td></tr></table>

<div>List of variables affecting real estate prices.</div>

Mathematical Problems in Engineering

tab1

Table 1

Table 1: The Correlation between Monetary Policy and Housing Price Change Based on a VAR Model 