Research On The Influence Of Adjustment Of Deposit Reserve Ratio On Real Estate Price

In recent years,China's real estate has developed rapidly.In the report released by the IMF,several cities in China are on the list,ranking in the top 10 global house prices for several years in a row.The prices that have risen year after year have caused most residents to suffer and home prices have become people chat hot topics after lunch.The prosperity of the real estate market is not only a symbol of China's economic growth,but also the cornerstone of China's political stability and cultural development.However,the excessive prosperity of the market may also cause adverse social consequences.Faced with this basic status quo,the Chinese government has adopted some policy measures to stabilize the market,prevent serious political and economic problems,and increase people's confidence in the government.This includes the important reserve policy,which is an important monetary policy,but overall,there are limited policy controls,and the implementation is not effective.Because of the regional nature of China's economic development,the actual effect of policies in different places There are also some differences.This article studies the effect of reserve ratio on house prices and regional differences,which helps to better analyze the effect of policy implementation,determine whether monetary policy is suitable for the current situation,and also contribute to the formulation of future policies.This paper firstly analyzes the background and significance of the research,sorts out the existing literature,analyzes the innovations and deficiencies of the paper,and points out the main research methods.Second,it mainly expounds the basic theory of the reserve system and the real estate market,analyzes the former's theoretical transmission channels to the latter,and points out the reasons for the impact of regional differences;Third,analyze the development of deposit reserve system and the basic status quo of China's real estate market,and combine the chart analysis to point out the causal links between them.From the theoretical analysis of the actual situation of the current real estate market in China does exist in the regional basic situation.The next stage of empirical research points out the selection of variables and the division of the study area,followed by Granger causality,impulse response and variance decomposition and other empirical studies to study the overall effect of reserve ratio on house prices and regional differences.The results show that although the regulation of the reserve ratio on house prices has a policy effect,the effect is not obvious and there are differences in the implementation effect in different regions.It has regional differences,and it has a greater impact on the western region than the eastern and central regions.At the same time,there is a time lag in the regulation of house prices by monetary policies such as deposit reserve policy.In the end,based on these theoretical and empirical results,the paper proposes specific policy recommendations for implementing differentiated reserves,strengthening financial reform and innovation,increasing financial support in the central and western regions,guiding reasonable public expectations,and improving housing security.