%0 Journal Article
%T The Impact of Gambling Gross Income, Unemployment Rate, Money Supply and CPI on Residential Housing Value in Macau: Theory and Evidence
%A Ting Lan
%J Theoretical Economics Letters
%P 1067-1089
%@ 2162-2086
%D 2021
%I Scientific Research Publishing
%R 10.4236/tel.2021.116068
%X This paper uses the classical and easy-to-understand
Vector Auto-regression Model Method to study the impact of economic and
monetary policy va<span>riables on the residential
property market in Macau. By using sample </span>monthly data from Jan. 2005 to
May 2021, the empirical results show the dynamic relationship among the
residential property value, key economic and monetary <span>variables. Furthermore, adopting the Granger causality test, generalized</span> impulse response function,</span><span style=\"font-family:&quot;\"> </span><span style=\"font-family:&quot;\">variance
decomposition and co-integration test of the corresponding VAR specification,
the tables and graphs clearly explain <span>the
residential housing value has a positive relationship with the gamblin</span>g gross
income; it has a negative relationship with the unemployment rate; it has a positive
relationship with the money supply; it has a negative relationship with the
consumer price index. Finally, this paper gives five policy actions to help
government stabilize the residential property market in Macau and make it
healthy develop.
%K VAR
%K Granger Causality Test
%K Generalized Impulse Response Function
%K Variance Decomposition and Co-Integration Test
%U http://www.scirp.org/journal/PaperInformation.aspx?PaperID=113107