住房价格上涨对城镇居民收入差距的影响机理与实证分析

中国实施住房分配货币化制度改革以来,房地产业迅速发展。住房价格的快速上涨会通过财富分配效应、消费挤出效应和通货膨胀效应起到拉大城镇居民收入差距的作用。本文使用1999—2010年全国31省的面板数据,构建了包括商品房价格在内的城镇居民收入差距多因素模型,验证住房体制改革之后,我国商品房价格尤其是商品住宅价格对城镇居民收入差距变动的实际影响。结果表明,1999年以来,中国商品房价格对城镇居民收入差距产生了显著的正向影响,其中商品住宅的价格对城镇居民收入差距的正向影响更大。政府应该采取积极措施抑制商品房价格尤其是商品住宅价格的过快上涨,这必将有助于平抑城镇居民收入差距。

Theory and Empirical Analysis of the Impact of Rising House Price on Urban Residents’ Income Gap in China

Since the implementation of the monetization reform of housing distribution,the real estate industry has developed rapidly in China.In theory,as housing becomes an important part of the assets of urban residents,the rapid rising of its price will widen urban residents’ income gap through the wealth effect,the consumption crowding-out effect and the inflation effect.By constructing a multi-factor model,this paper uses the provincial panel data from 1999 to 2010 to make an empirical test on the impact of the price of commercialized buildings,especially the price of residential buildings,on urban residents’ income gap after housing system reform in China.The results show that since 1999,the price of commercialized buildings has had a significant positive impact on the income gap between urban residents in China and the price of residential buildings has a greater impact on this income gap.The government should take active measures to curb the excessive rising of housing price,especially the price of residential buildings,so as to help narrow the income gap disparity of urban residents.