A Comparative Study of the Efficiency of Chinese and American Housing Markets——Based on the Hurst Index from Fractal Market Theory

DOI

10.2991/icmesd-19.2019.32How to use a DOI?

Keywords

Fractal structure theory, Hurst index, Efficiency of housing market, Information transparency.

Abstract

Based on the fractal structure theory of stock market, this paper applied Hurst index as a measure and then explored the rationality of housing prices and the effectiveness of real estate markets in China and the United States. by using data from several large and medium-sized cities in China and each state in America. Statistical analysis shows that the real estate markets of China and the United States didn’t reach weak effective, that is, the information response of real estate markets in both countries is inadequate. Therefore, it’s urgent for government to solve the problem that how to strengthen the information transparency of the real estate industry so as to improve the efficiency of this market.

Copyright

© 2019, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Yan Chen
AU  - Ya Cai
AU  - Cheng-Li Zheng
PY  - 2019/07
DA  - 2019/07
TI  - A Comparative Study of the Efficiency of Chinese and American Housing Markets——Based on the Hurst Index from Fractal Market Theory
BT  - Proceedings of the 5th Annual International Conference on Management, Economics and Social Development (ICMESD 2019)
PB  - Atlantis Press
SP  - 212
EP  - 216
SN  - 2352-5428
UR  - https://doi.org/10.2991/icmesd-19.2019.32
DO  - 10.2991/icmesd-19.2019.32
ID  - Chen2019/07
ER  -