利率规则与通货膨胀：一个模型分析

物价水平居高不下是我国政府和广大居民目前所面临的一个严峻问题。调控货币数量和名义利率水平是治理通货膨胀的两大举措。一部分投资者只能参与产品交易,而另一部分投资者既可以参与产品交易,也可参与债券交易,且存在速度冲击,交易者初始禀赋是同一的条件下,通过公开市场操作而购买债券会降低利率水平;在速度冲击是独立同分布的情况下,速度冲击对货币增长率的影响是暂时性的。

A Model Analysis about Interest Rate Rule and Inflation

Constant high price level is a grim problem facing the government and residents of our country. Controlling money quantity and nominal interest rate are the two ways of dealing with inflation. One part of investors can only trade in goods market; the other part of investors can not only trade in goods market but also trade in bond market,and speed shock exists. On condition that the initial gifts of traders are the same,buying bonds through open market operation will lower interest rate; on condition that the speed shock is IDD,the influence of speed shock upon the money growth rate is temporary.