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![loading](/sites/all/modules/hf_eds/images/loading.gif)
A TALE OF TWO POLICIES: THE DISTRIBUTIONAL IMPACTS OF MIGRATION AND LAND POLICY IN CHINA.
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- Author(s): LI, XIAOLU; TANG, YANG
- Source:
Singapore Economic Review; Jun2024, Vol. 69 Issue 3, p915-934, 20p- Subject Terms:
- Source:
- Additional Information
- Subject Terms:
- Abstract: In this paper, we study the distributional impacts of regional land and migration policies on housing, land markets and resource re-allocation in the context of the Chinese economy. The distribution of both housing prices and population is endogenously determined in a general equilibrium framework. We calibrate the model into the Chinese economy during 2010–2015 to match certain key moments regarding migration flow and land supply policies among 278 prefectural cities. Counterfactual exercises suggest that a uniformly tightened land policy distracts population from flowing into large to median-size cities; hence, housing price growth slows down in large cities. A uniformly tightened migration policy leads to more population recipient cities at an overall smaller scale, which causes housing prices to grow in most cities. Housing and population distribution become less dispersed under both exercises. If land supply distribution becomes less dispersed, housing and land prices become lower in most cities, and land price distribution becomes more even. [ABSTRACT FROM AUTHOR]
- Abstract: Copyright of Singapore Economic Review is the property of World Scientific Publishing Company and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
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