Luxury Tax,Hot Money and Housing Price-Evidence of Taiwan

• Main Authors: Cheng-hua Tsai, 蔡政樺
• Other Authors: Guang-di Chang
• Format: Others
• Language: zh-TW
• Published: 2014
• Online Access: http://ndltd.ncl.edu.tw/handle/51559474041838826795

碩士 === 國立臺灣科技大學 === 財務金融研究所 === 102 === This paper presents the relationship between house price and “Hot money”after luxury tax in Taiwan .This paper shows basic methodology of VAR and using the VAR model to analysis the relationships. The research time was from November 2002 to September 2013.The model contains six variables ,which are house price index(HP),hot money(HM),stock price index(SI),per capita income(DPI),interest rate spread(IRS),and exchange rate(EX).All of the six variables are monthly data. Empirical results suggest three main analysis: 1.There is no structural break in the data of House price after luxury tax. 2.The rise of house price leads the increasing of hot money, there is one way influence of house price to hot money. 3.There is no significant influence of hot money to House price.