中文摘要：

货币政策手段是房地产宏观调控体系中的一个重要手段,利用货币政策工具对房地产价格进行调控就是将住房的实物供求调控转化为房地产开发与需求的资金供求调控。本文把货币政策工具分为价格型工具和数量工具,论文通过分析表明：利率政策、信贷政策以及选择性货币政策工具可以影响房地产的供给方与需求方的成本以及资金预算约束从而可以影响房价,但由于供给与需求对货币政策工具的弹性的差异导致房地产价格调控存在不确定性,房价的调控还需要辅以其他政策工具。

英文摘要：

Using monetary policy on macro-control of real estate market is actually transferring the physical supply and demand control into fund control.Monetary policy instruments is an important means of monetary policy tools in the real estate macro control system,which divided into price-based and quantity-based tools.This paper’ s analysis shows that： interest-rate policy,credit policy and selective monetary policy can influence the cost and capital budget constraints of the real estate supply and demand,which can affect the price,but the flexibility’ s difference of supply and demand to monetary policy instruments lead to uncertainties in real estate price regulation,Housing price regulation and control still need to be complemented by other policy instruments.