| 开放条件下货币政策的资产价格传导机制研究 |
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| 引用本文： | 何国华,黄明皓.开放条件下货币政策的资产价格传导机制研究[J].世界经济研究,2009(2). |
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| 作者姓名： | 何国华 黄明皓 |
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| 作者单位： | 武汉大学经济与管理学院 |
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| 基金项目： | 中国人民银行武汉分行重点招标课题《国际收支失衡条件下货币政策有效性研究》的资助 |
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| 摘 要： | 本文研究开放经济条件下货币政策在资本市场、汇率市场和商品市场之间的传导过程。文章首先构建了开放条件下货币政策的资产价格传导模型,并与传统货币政策传导模型进行比较分析,认为它更合适地解释了1999年后中国的货币政策传导机制。最后用VAR方法证明开放条件下货币政策的资产价格传导机制具有系统稳定性。
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| 关 键 词： | 货币政策 传导机制 资产价格 动力系统 |
Study on the Mechanism of Assets Price Transmission in Monetary Policy under the Open Economy |
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| He Guohua,Huang Minghao.Study on the Mechanism of Assets Price Transmission in Monetary Policy under the Open Economy[J].World Economy Study,2009(2). |
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| Authors: | He Guohua Huang Minghao |
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| Abstract: | The paper research on the monetary policy transmission through the capital market,the foreign exchange market and the commodity market in the open economics.First,we construct an assets price transmission model of monetary policy under the open economics,and then compare it with the traditional monetary policy transmission models,and find that the model we constructed is better to analyze China's transmission mechanism of monetary policy after the year 1999.At last,we use VAR to prove that the assets price ... |
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