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Housing Market Dynamics and Macroeconomic Stability are Based on Agent's Operations Research Decision-Making Methodology

Authors :
Master Song jixin
Doris Padmini Selvaratnam
Source :
Operational Research in Engineering Sciences: Theory and Applications, Vol 6, Iss 3 (2023)
Publication Year :
2023
Publisher :
Regional Association for Security and crisis management, Belgrade, Serbia, 2023.

Abstract

The interplay between the housing market and the macro-economy is a complex and dynamic phenomenon influenced by various factors. Consequently, conducting an exhaustive examination of this relationship is imperative for devising pragmatic plans aimed at sustaining both social economic well-being and housing market stability. This study centers on the housing market and macro-economy as its focal points, employing an Agent decision-making model rooted in operational research decision-making theory. Within the confines of policy constraints, this model scrutinizes the enduring and fleeting impacts of housing market structure, potential, and stimulus policies on the stability of the macro-economy. The findings reveal that economic policies and stimulus strategies can foster the stable evolution of the macro-economy, albeit without maximizing the benefits accrued to the housing market, substantiating the validity of hypothesis 1. Furthermore, the study asserts that the structure and potential of the housing market exert a persistent positive influence on macroeconomic stability. Simultaneously, judiciously implemented stimulus strategies demonstrate a short-term stimulating impact, corroborating the veracity of hypotheses 2, 3, and 4. Notably, market freedom emerges as a variable influencing macroeconomic stability, characterized by considerable randomness. Hence, a comprehensive consideration of the housing market's structure and potential, coupled with the judicious application of economic policies and stimulating strategies, assumes paramount importance in upholding macroeconomic stability over the long and short term. The elucidated case study herein serves as a theoretical reference, offering insights for devising macroeconomic strategies and adjusting the housing market structure within the realm of housing policies.

Details

Language :
English
ISSN :
26201607 and 26201747
Volume :
6
Issue :
3
Database :
Directory of Open Access Journals
Journal :
Operational Research in Engineering Sciences: Theory and Applications
Publication Type :
Academic Journal
Accession number :
edsdoj.777b739b20ca4788b99c0d8a1be4cfd2
Document Type :
article