北京城中村调研计划.PPTVIP

Residential Investment and Interest Rate: A Nonlinear Analysis Zan Yang Institute of Real Estate Studies Tsinghua University， Beijing Contents of the presentation Theoretical Background Relevant Studies Methodology Empirical Results and Conclusion Theoretical Background No option is considered Negative relationship between interest rate and investment Option is considered Investment or delay investment Nonlinear relationship between interest rate and investment Investing value Option value Previous Studies Chetty (2007): retime investment in response to changes in market