Abstract摘要
该报告旨在调查英国住房需求与其潜在重要变量之间的关系。首先介绍问题的背景和理论,然后提出假设。该模型建立在假设的基础上,并用大量的计量经济学方法对初始模型进行检验,得出最佳拟合模型。
最后得出结论,并提出相关建议。
The report aims to investigate the relationship between the british house demand and its potential significant variables. Firstly, the background and theory of the issue will be introduced, then the assumption will be proposed. The model is built based on the assumption and a number of econometric methods will be used to test on the initial model to give evidence and to induce a best fitted model.
In the end, the conclusion will be drawn and related recommendations will be provided.
Contents
1 Introduction 2
1.1 Background 2
1.2 Literature review 2
1.3 Objectives 3
2 General-to-Specific Methodology 4
3 Analysis and Results 5
4 Limitations 14
5 Conclusion and recommendation 14
Reference 16
Appendix 17
Group mark proportions
1. Hang Zhao 201062095, 31% 2.Qihao Sun 201062785, 18% 3.Ziwei wang 201063993, 10% 4.Yaowan Huang 200860141, 18%
5. Weihong Shi 200991838, 23%
Word count:2497
1 Introduction介绍
1.1 Background
住房问题引起了公众和社会媒体的关注,一直是市民非常关注的问题。因为渴望定居的人们的欲望永远不会熄灭,对此的关注永远不够。因此,无论什么国家或地区,都会有对房产的要求。为了满足这些基本需要,除了市场力量的参与外,还需要及时干预。因此,有必要利用现有的经济工具分析市民住房需求与其他因素之间的关系。通过这种方式,可以真实、准确地得出两者之间的关系。然后,根据分析得出的关系,采取措施提供更多的住房或减少所提供的房屋数量以满足住房需求。英国作为现代经济的典范,正面临着类似的问题,这就要求英国政府拿出最佳的解决方案来控制它。The housing issue, which draws attention from the public and social media, has always been the very concern of the citizens. Because of the fact that the desire of people longing for dwellings to settle down is never extinguished, attention on that will never be enough. Thus, there will always be demands for housing properties, regardless of what countries or regions. In order to meet these fundamental needs, except for the participation of market forces, the prompt interference is required as well. consequently, it is necessary to make use of the available economic tools to analyze the relationship between the housing demands of citizens and other factors. Through this way will the authentic and precise conclusion of the relationship in between be able to be drawn. Then measures can be taken to meet housing demands by providing more houses or reducing the number of houses being provided based on the relationship drawn from the analysis. As a role model of modern economy, the UK is facing the similar issue, which requires the British government to come up with the best solution to control over it.
5 Conclusion and recommendation总结与回顾
The report has inferred and stated that the initial assumption proposed in the introduction section is correct, which means the best model is the one including the variables of logpri(-1), loggdp, loggdp(-1), logmorg, loglend, logpopl, logmorg(-1). Besides, it also stated that the house demand will not be significantly affected at the end of the year (m12).
Therefore, if the house demand of the UK is increasing or decreasing, a few corresponding measures can be taken to cooling or stimulate the house market, among which, the best scenario is to change the population in the year, house price and mortgage rate of the last year (coefficients of these are large).
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