| 物价稳定目标下我国货币政策外部时滞的实证分析 |
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| 引用本文： | 孔刘柳,谢乔昕.物价稳定目标下我国货币政策外部时滞的实证分析[J].上海经济研究,2011(1). |
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| 作者姓名： | 孔刘柳 谢乔昕 |
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| 作者单位： | 上海理工大学管理学院; |
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| 基金项目： | 上海市教委重点学科建设项目“经济系统运行与调控”(J50504)子课题; 上海市研究生创新基金(JWCXSL1002)阶段性成果之一 |
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| 摘 要： | 货币政策的时滞性对其有效性具有重要影响作用,对货币政策时滞测算具有重要的政策参考价值。本文采用向量自回归的脉冲响应函数和预测方差分解技术对2001年1月至2009年8月间我国货币政策的物价效应时滞进行估计,研究发现:狭义货币供应量M1对CPI的作用时滞为2个月,短期贷款规模SLOAN对CPI的作用时滞为4个月,中长期贷款规模LLOAN对CPI的作用时滞为5个月。在此基础上,对样本区间内我国货币政策的出台时机进行分析。
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| 关 键 词： | 货币政策 外部时滞 物价稳定 |
An Empirical Analysis on External Price-oriented Monetary Policy Lags |
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| Kong Liuliu Xie Qiaoxin.An Empirical Analysis on External Price-oriented Monetary Policy Lags[J].Shanghai Economic Review,2011(1). |
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| Authors: | Kong Liuliu Xie Qiaoxin |
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| Institution: | Kong Liuliu Xie Qiaoxin(School of Business,University of Shanghai for Science and Technology) |
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| Abstract: | Measuring lag of monetary policy has an important policy reference value since it has an important influence on the effectiveness of the policy.This paper estimates external price-oriented monetary policy lag from January 2001 to August 2009 by using impulse response functions and forecast variance decomposition.It is found that the external price-oriented monetary policy lags of M1,Short-term loan scale(),Medium and long-term loan scale() are about 2 months,4 months,and 5 months respectively.On this basis,... |
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| Keywords: | Monetary policy External lag of policy Price stability |
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