4441 
4926现有文献主要是从宏观总量角度来研究房价和消费市场的关系，但由于理论和数据的客观欠缺，它们并没有深入地从微观价格角度具体考察房价对消费市场的实际影响。鉴于此，文章以市场价格为核心联系了房价、消费市场与贸易开放，首次基于关税传导效应的理论基础，分析了房价上涨对贸易开放作用的阻碍性效果，并利用我国2001−2012年136个地级城市75种商品的零售价格、进口关税信息，以及每个城市的年度房价，从商品的实际市场价格角度检验了房地产价格对关税传导效果发挥的实际影响。研究结果表明：（1）商品进口关税的下降可以显著影响国内不同市场消费品的最终销售价格；但是，这种关税传导效应存在显著的城市差异性，表现为房价越高的地区，关税传导效应相对越弱。（2）非参数估计等稳健性检验进一步发现，房价较高的地区，由于居民商品需求弹性较低，实际价格受关税影响较小，因此关税传导机制受到阻碍，即房价上涨会抵消关税下降对国内消费市场的影响。（3）相对于一般消费品和异质商品，房价对生活必需品和同质商品的关税传导的阻碍作用较小。文章首次从关税传导角度，以商品最终市场价格为基准，填补了房地产价格对国内消费市场影响的研究空白。
关税传导、房价与市场消费价格——基于微观价格视角的研究
摘要
参考文献
3 杜莉,沈建光,潘春阳. 房价上升对城镇居民平均消费倾向的影响−基于上海市入户调查数据的实证研究[J]. 金融研究,2013,(3):44−57. DOI:10.3969/j.issn.1674-5477.2013.03.008
16 Amiti M,Itskhoki O,Konings J. Importers,exporters,and exchange rate disconnect[J]. American Economic Review,2014,104(7): 1942−1978. DOI:10.1257/aer.104.7.1942
17 Berger D,Guerrier V,Lorenzoni G,et al. House prices and consumer spending[J]. The Review of Economic Studies,2018,85(3): 1502−1542. DOI:10.1093/restud/rdx060
18 Berman N, Couttenier M. External shocks, internal shots:The geography of civil conflicts[J]. Review of Economics and Statistics,2015,97(4): 758−776. DOI:10.1162/REST_a_00521
19 Berner E,Birg L,Boddin D. Retailers and consumers:The pass-through of import price changes[J]. The World Economy,2017,40(7): 1314−1344. DOI:10.1111/twec.2017.40.issue-7
20 Burstein A, Vogel J. International trade, technology, and the skill premium[J]. Journal of Political Economy,2017,125(5): 1356−1412. DOI:10.1086/693373
22 Feenstra R C, Weinstein D E. Globalization, markups, and US welfare[J]. Journal of Political Economy,2017,125(4): 1040−1074. DOI:10.1086/692695
23 Galle S, Rodríguez-Clare A, Yi M. Slicing the pie: Quantifying the aggregate and distributional effects of trade[R]. NBER Working Paper, 2017.
24 Garriga C, Hedlund A. Mortgage debt, consumption, and illiquid housing markets in the great recession[R]. Working Paper 2017-030A, 2017.
25 Guerrieri V,Uhlig H. Housing and credit markets:Booms and busts[J]. Handbook of Macroeconomics,2016,2: 1427−1496. DOI:10.1016/bs.hesmac.2016.06.001
26 Han J,Liu R J,Marchand B U,et al. Market structure,imperfect tariff pass-through,and household welfare in Urban China[J]. Journal of International Economics,2016,100: 220−232. DOI:10.1016/j.jinteco.2016.02.006
27 Hanner D, Hosken D, Olson L M, Smith L K. Dynamics in a mature industry: Entry, exit, and growth of big-box retailers[J]. Journal of Economics and Management strategy,2015,24(1): 22−46. DOI:10.1111/jems.12087
28 Helpman E,Itskhoki O, Muendler M A, et al. Trade and inequality:From theory to estimation[J]. The Review of Economic Studies,2017,84(1): 357−405. DOI:10.1093/restud/rdw025
29 Justiniano A,Primiceri G E,Tambalotti A. A simple model of subprime borrowers and credit growth[J]. American Economic Review,2016,106(5): 543−547. DOI:10.1257/aer.p20161087
30 Kaplan G, Mitman K, Violante G L. Non-durable consumption and housing net worth in the great recession: Evidence from easily accessible data[R]. NBER Working Paper No.22232, 2016.
31 Marchand B U. Tariff pass-through and the distributional effects of trade liberalization[J]. Journal of Development Economics,2012,99(2): 265−281. DOI:10.1016/j.jdeveco.2012.02.004
32 Mayer T, Melitz M, Ottaviano G. Market size, competition, and the product mix of exporters[J]. American Economic Review,2014,104(2): 495−536. DOI:10.1257/aer.104.2.495
33 Mian A,Rao K,Sufi A. Household balance sheets,consumption,and the economic slump[J]. The Quarterly Journal of Economics,2013,128(4): 1687−1726. DOI:10.1093/qje/qjt020
34 Mian A,Sufi A. Who bears the cost of recessions?The role of house prices and household debt[J]. Handbook of Macroeconomics,2016,2: 255−296. DOI:10.1016/bs.hesmac.2016.03.005
35 Muellbauer J, Murphy A. Booms and busts in the UK housing market[J]. The Economic Journal,1997,107(445): 1701−1727. DOI:10.1111/j.1468-0297.1997.tb00076.x
36 Nicita A. The price effect of tariff liberalization:Measuring the impact on household welfare[J]. Journal of Development Economics,2009,89(1): 19−27. DOI:10.1016/j.jdeveco.2008.06.009
37 Piazzesi M, Schneider M. Housing and macroeconomics[R]. NBER Working Paper No.22354, 2016.
38 Porto G G. Estimating household responses to trade reforms:Net consumers and net producers in rural Mexico[J]. International Economics,2015,144: 116−142. DOI:10.1016/j.inteco.2015.09.001
39 Rickert D, Schain J P, Stiebale J. Local market structure and consumer prices: Evidence from a retail merger[R]. DICE Discussion Paper, 2018.
40 Simonovska I. Income differences and prices of tradables:Insights from an online retailer[J]. The Review of Economic Studies,2015,82(4): 1612−1656. DOI:10.1093/restud/rdv015
41 Stroebel J, Vavra J. House prices, local demand, and retail prices[R]. NBER Working Paper No.20710, 2014.
42 Woodford M. Interest and prices: Foundations of a theory of monetary policy[M]. Princeton University Press, 2003.
引用本文
张甜甜, 孙浦阳. 关税传导、房价与市场消费价格——基于微观价格视角的研究[J]. 财经研究, 2019, 45(10): 46-58.
导出参考文献，格式为：
