Do economic policy uncertainty and its components predict China's housing returns?

Yin, Xiao-Cui; Li, Xin; Min-hui, Wang; Qin, Meng; Shao, Xuefeng

doi:10.1016/j.pacfin.2021.101575

Cited by 8 publications

(4 citation statements)

References 43 publications

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“…Khalid et al 2021). In general, external borrowing can increase capacity while increasing productivity, making the debt creative and feasible (Yin et al 2021). On the other hand, the debt might lead to financial instability and increased foreign borrowing, exposing the country to various economic challenges.…”

Section: Introductionmentioning

confidence: 99%

RETRACTED ARTICLE: Assessing the nexus between fiscal policy, COVID-19, and economic growth

Wang

Gao

Chen

et al. 2022

Environ Sci Pollut Res

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Section: Introductionmentioning

confidence: 99%

RETRACTED ARTICLE: Assessing the nexus between fiscal policy, COVID-19, and economic growth

Wang

Gao

Chen

et al. 2022

Environ Sci Pollut Res

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“…An analysis of these findings suggests that the geographical origin of COVID-19 in the Asia–Pacific region may have motivated higher scholarly interest. Furthermore, a deeper examination of the existing literature indicates that countries in the Asia–Pacific region, such as Australia and China, contend with higher levels of political and economic uncertainty compared to other developed economies in Europe and the Americas (Smales, 2016; Wang et al ., 2020; Yin et al ., 2021). This regional context may also provide an impetus for research in this area, encouraging scholars to explore the region-specific dynamics of uncertainty in property performance amid different political and economic developments.…”

Section: Resultsmentioning

confidence: 99%

Economic uncertainty and direct property performance: a systematic review using the SPAR-4-SLR protocol

Ahiadu,

Abidoye

2023

JPIF

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PurposeThis study systematically reviewed existing literature on the impact of economic uncertainty on property performance to highlight focus areas and spur future research amid unprecedented global uncertainty levels. Conceptually, uncertainty levels and environmental dynamism are related to investors' risk judgement and decision-making.Design/methodology/approachPeer-reviewed journal articles published from 2007 to 2022 were assembled and arranged through the Scientific Procedures and Rationales for Systematic Literature Reviews (SPAR-4-SLR) protocol. The initial search produced 2,028 results from the Web of Science and Scopus databases, which were rigorously purified for a final dataset of 70 articles. These records were subsequently assessed through content analysis, bibliographic modelling, topic modelling and thematic analysis. Recurring themes were visualised using the VOSviewer software.FindingsThe existing literature suggests that economic uncertainty negatively impacts investment volumes, returns and performance. Research has also increased since 2018, with a strong emphasis on the housing sector and developed property markets. Commercial property and emerging markets account for only 10 and 8% of previous research, respectively.Practical implicationsThese findings highlight the negative impact of economic uncertainties on property performance and investment volumes, which necessitate careful risk assessment. Given the high susceptibility of emerging and commercial property markets to uncertainty, these markets warrant further research amid ongoing uncertainty concerns across the globe.Originality/valueGiven current unprecedented levels of global uncertainty, the effects of economic uncertainty have received renewed interest. This study synthesised the current understanding of how different property markets respond to increased uncertainty and outlined future research directions to enhance understanding. Themes and relationships were also integrated into a conceptual map summarising the reported effects of economic uncertainty on housing, commercial property, investment and behaviour in the property market.

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“…Fu et al (2021) used China's data and reported that uncertainty in economic policy causes Economic policy uncertainty indemnification in the housing market. Yin et al (2021) explored economic policy uncertainty to predict housing return in China. The result shows that uncertainty in monetary policy strongly predicts housing returns in first-tier cities.…”

Section: Empirical Studiesmentioning

confidence: 99%

The role of economic policy uncertainty in forecasting housing prices volatility in developed economies: evidence from a GARCH-MIDAS approach

Tang

Khaskheli

Raza

et al. 2022

IJHMA

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Purpose In the past few years, numerous economic uncertainty challenges have occurred globally. These uncertainties grasp the attention of the researchers and they examine the role of economic policy uncertainties in several aspects. Therefore, this study contributes to the literature by exploring the house prices volatility and economic policy uncertainty nexus in G7 countries. Design/methodology/approach The authors applied the newly introduced econometric technique, the GARCH-MIDAS model, to the sample size of January 1998–May 2021. Findings The result shows a significant relationship between house prices volatility and economic policy uncertainty. Moreover, economic policy uncertainty acts as a significant determinant of house prices volatility. In addition, the out-of-sample also shows that the economic policy uncertainty is an effective predictor and the GARCH-MIDAS has a better predictive ability. Originality/value This paper makes a unique contribution to the literature with reference to developed economies, being a pioneering attempt to investigate the GARCH-MIDAS model to analyze the relationship between housing prices volatility and economic policy uncertainty by applying more rigorous and advanced econometric techniques.

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Do economic policy uncertainty and its components predict China's housing returns?

Cited by 8 publications

References 43 publications

RETRACTED ARTICLE: Assessing the nexus between fiscal policy, COVID-19, and economic growth

RETRACTED ARTICLE: Assessing the nexus between fiscal policy, COVID-19, and economic growth

Economic uncertainty and direct property performance: a systematic review using the SPAR-4-SLR protocol

The role of economic policy uncertainty in forecasting housing prices volatility in developed economies: evidence from a GARCH-MIDAS approach

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