[ECON20141207]

宏观经济学研讨会
（总第158期）

　　　【时间】2014年4月9日（周三）12：15－13：45
　　　【地点】明商0202
　　　【主讲】孙绶志  中国人民大学经济学院
　　　【点评】江艇  中国人民大学经济学院助理教授 香港科技大学经济学博士
　　　【主题】State Misallocation and Housing Prices: Theory and Evidence from China (written by Shing-Yi Wang, American Economic Review, 2011)
　　　【摘要】This paper examines the equilibrium price effects of the privatization of housing assets that were previously owned and allocated by the state. I develop a theoretical framework that shows that privatization can have ambiguous effects on prices in the private market, and that the degree of misallocation of the assets prior to privatization determines the subsequent price effects. I test the predictions of the model using a large-scale housing reform in China. The results suggest that the removal of price distortions allowed households to increase their consumption of housing and led to an increase in equilibrium housing prices.
　　　
　　　【主持】陈彦斌 教授

　　
　　人大宏观经济学研讨会（Macro Workshop）旨在追踪宏观经济学国际最新进展，倡导构建符合国情的动态优化模型，并使用计算机模拟研究经济增长、收入分配和宏观政策等中国宏观经济重大问题。

联系人：陈小亮　　E_mail: chenxiaoliang2200@126.com
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经济学院
中国经济改革与发展研究院