| 成本渠道理论与通货膨胀治理:来自中国1992-2009年的证据 |
| |
| 引用本文： | 王轶君.成本渠道理论与通货膨胀治理:来自中国1992-2009年的证据[J].上海金融,2011(3). |
| |
| 作者姓名： | 王轶君 |
| |
| 作者单位： | 上海财经大学金融学院,上海,200433 |
| |
| 基金项目： | 2008年国家社会科学基金重大项目(批准号:08&ZD036)资助。项目题目:保持经济稳定、金融稳定和资本市场稳定的对策研究 |
| |
| 摘 要： | 传统的货币政策理论认为提高利率将会使得物价下降,但是近年来利率政策的实际运用效果却与这一理论背道而驰。成本渠道理论可以对这一现象进行解释。本文使用GMM估计方法对1992年第三季度至2009年第三季度的数据进行了检验,结果强烈地支持了成本渠道的存在,这一结论说明在我国提高利率在短期内会引起物价上涨,而不会起到抑制通货膨胀的效果。
|
| 关 键 词： | 货币政策传导机制 成本渠道 GMM估计 |
Cost Channel Theory and Inflation Control:Based on the Evidence over 1992-2009 in China |
| |
| Wang Yijun.Cost Channel Theory and Inflation Control:Based on the Evidence over 1992-2009 in China[J].Shanghai Finance,2011(3). |
| |
| Authors: | Wang Yijun |
| |
| Abstract: | Traditional monetary policy theory argues that raising interest rate could lower the price level.However,the application of interest rate policy in recent years has run counter to this theory.Cost channel theory may provide an explanation for this phenomenon.The paper applies GMM estimation method to test the data from the third quarter in1992 to the third quarter in 2009,and the result strongly suggests the existence of cost channel.The conclusion reveals that raising interest rate in China may lift the pr... |
| |
| Keywords: | Monetary Policy Transmission Mechanism Cost Channel GMM Estimation |
| 本文献已被 CNKI 万方数据 等数据库收录！ |
