Abstract With state-space models and Kalman filtering solution, the empirical analysis shows that the Housing Provident Fund System of Shanghai has great impacts on Shanghai housing market in both the volume and price by pushing high the house purchasing power of Shanghai citizens and leading to Shanghai housing bubble. The influence on bubble mainly comes from the reconstruction plan by Shanghai government. It is advised to modify the present housing market policies of Shanghai as well as China to exploit the positive function of the Provident Fund System and restrain its adverse effects to further improve China's housing security system.
YANG Gang,TUN Yan-Hua. A Research on the Impacts of Housing Provident Fund System to Shanghai Housing Market Development. Economic Survey, 2012, 1(4): 085.
2012, Vol. 1 
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