城镇居民金融资产与不动产财富效应的比较_骆祚炎预案.pdf

56 2007 11 ( ; :, ;, , ) : ;, ; ;, ,, F0641 1 A The Comparative Analysis on the Urban Residentsπ Wealth Effect Abstract : The empirical analysis shows t hat t he wealt h effect p resent s t hree characteristics1 The first is t hat t he wealt h effect of ho use asset s is st ro nger t han t hat of t he financial asset s1 The seco nd is t hat t here is lit tle difference in wealt h effect between t wo kinds of asset s1 The t hird is t hat t he wealt h effect of t wo kinds of asset s is quite weak1 These reaso ns are followings : t he fir st is t hat ho using is t he base of co nsump tio n ; t he