In recent years，the housing price in Chinese fi rst-tier cities and second-tier cities universally increased，and it caused the serious property bubbles. In 2017，our government proposed the housing property tax reformation and a series of policy mix causing heated discussion. Using the experimental economics，this paper established housing transaction market and simulated housing transaction in the computerized experimental environment to analyze the cause and the process that leads the housing bubbles and check up the effect of our housing polices which curbed the bubbles. The result showed that the bubbles were caused by the traders’ irrational competition. Increasing transaction cost and unilaterally imposing housing tax had little effect to restrain the bubbles. But polices of restricting loans and increasing the down payment ratio were effective to curb the bubbles.Also，the combination of housing polices always had more effects for restraining the bubbles.
Bu Guoqin,Yan Xiaoxu.
The Experimental Research on the Effectiveness of Housing Policies to Curb Bubbles in China. Journal of Industrial Technological Economics. 2017, 36(7): 63-70
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