货币政策对房价的动态影响研究

he rise in house prices, which has been a departure from economic growth, makes it harder to implement monetary policy. In view of this, this article use the TVP-FAVAR model to study the effect of monetary policy on house prices in different periods based on the quarterly data of 2000-2016. Results show that quantitative monetary policy on prices trend of pulse difference is small, but the strength change over time, and in the "new normal" economy emphasizes the maximum; The price monetary policy is very similar to that of the first five, and the later rebound has a significant time difference. Therefore, the government should pay attention to the effect of monetary quantity on housing prices after implementing monetary policy, as well as the later recovery of interest rate policy.