This paper studies the nexus between the property market and macroeconomy of China in 1998-2004, using panel data models covering 31 provinces and major cities. The estimates suggest three main conclusions. First, there seemed to be a two-way linkage between property prices and GDP growth....

This paper applies the single-index dynamic factor model developed by J. H. Stock and M. W. Watson to construct (almost) real-time estimates of economic activity in Hong Kong. The Hang Seng index, a residential property price index, retail sales and total exports are used as coincident...