基于VAR模型的房地产市场和股票市场关联性分析.pdf

VAR 1998 2001 2005 Markowitz Tobin Mordiglianl Engle Granger ECM VAR GDP Johansen Granger VAR Johansen Granger Granger Granger Granger Granger Granger Granger The Study of Relation of Real Estate Market and Stock Market in China Based on VAR Model Abstract Real estate and stock are two important investment tools in many countries. Real estate is also important basic consumer goods. Since 1998, real estate has developed fast. However,it was completely different situation in stoke market after 2001.The stock market started to change better until the second half year of 2005 and the Shanghai stock index also broke through new high repeatedly.At that same time, the increase rate of commodity apartment