there is an asset bubble in China's residential housing market. To investigate this question, we employ an equilibrium asset-pricing … approach, which suggests an non-arbitrage condition on the rent-to-price ratio. This ratio should be equal to the difference …

there is an asset bubble in China's residential housing market. To investigate this question, we employ an equilibrium asset-pricing … approach, which suggests a non-arbitrage condition on the rent-to-price ratio. This ratio should be equal to the difference …