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dc.contributor.authorPeng Xing-tingzh_CN
dc.contributor.author彭兴庭zh_CN
dc.date.accessioned2015-07-22T01:39:31Z
dc.date.available2015-07-22T01:39:31Z
dc.date.issued2009zh_CN
dc.identifier.citationICIC 2009: SECOND INTERNATIONAL CONFERENCE ON INFORMATION AND COMPUTING SCIENCE, VOL 1, PROCEEDINGS, 2009:147-150zh_CN
dc.identifier.otherWOS:000272834400037zh_CN
dc.identifier.urihttps://dspace.xmu.edu.cn/handle/2288/85161
dc.descriptionConference Name:2nd International Conference on Information and Computing Science. Conference Address: Manchester, ENGLAND. Time:MAY 21-22, 2009.zh_CN
dc.description.abstractReal estate is a dualistic industry. On one hand, it is a subsector of real economy; on the other hand, it has an attribute with very strong fictitious economy, mainly reflecting in such aspects as the strong price fluctuation, autonomous capital proliferation and capital fictionization. As a result, when analyzing whether the market price of the real estate deviates from its value, we should not only take into account of housing price-to-income ratio, real estate vacancy rate and housing price-to-rent ratio from the point of real economy, but also the money supply, interest, credit and finance liberalization from the point of fictitious economy. Taking the U.S. subprime mortgage for an example, it is meaningful but defective to analyze the emergence of the U.S. bubble just only standing on the side of real economy. The subprime mortgage crisis is not just a price bubble, but also a credit bubble on the basis of currency and financial derivative products. In conclusion, this article holds that it makes much more sense to judge and forecast the trend of the real estate market by using fictitious economy than by applying real economy. Further, the management of real estate bubble can not be separated from the support of monetary and financial policies.zh_CN
dc.language.isoen_USzh_CN
dc.publisherIEEE COMPUTER SOCzh_CN
dc.source.urihttp://dx.doi.org/10.1109/ICIC.2009.44zh_CN
dc.titleThe Real Estate Fictionization: Related to the Theory and Empirical Analysis of United States Subprime Mortgage Crisiszh_CN
dc.typeConferencezh_CN


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