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Examining the Impact of Home Purchase Restrictions on China’s Housing Market

Staff Working Paper 2021-18 Zhentong Lu, Sisi Zhang, Jian Hong
How do “cooling measures” in the housing market—policies aimed to stabilize prices—affect the market? We use a structural model of housing demand and price competition among developers to evaluate China’s home purchase restriction policies implemented in 2010–11.
Content Type(s): Staff research, Staff working papers Topic(s): Housing, Market structure and pricing JEL Code(s): O, O1, O18, R, R3, R31, R38