| 中国货币政策反应函数检验 |
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| 引用本文： | 陈元富.中国货币政策反应函数检验[J].南方金融,2011(8). |
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| 作者姓名： | 陈元富 |
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| 作者单位： | 中国人民银行研究生部; |
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| 摘 要： | 本文利用历史数据对中国货币当局的政策反应函数进行了实证检验。结果发现,中国货币当局除了按照泰勒(Taylor)规则对通胀偏倚和产出偏倚作出反应之外,还对美国货币政策变量作出反应。这表明,中国货币当局在制定货币政策时已经在某种程度上考虑了国际博弈因素。
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| 关 键 词： | 货币政策 反应函数 泰勒规则 |
China's Monetary Policy Reaction Function Test |
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| Chen Yuanfu.China's Monetary Policy Reaction Function Test[J].South China Finance,2011(8). |
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| Authors: | Chen Yuanfu |
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| Institution: | Chen Yuanfu(Graduate School of PBC,Beijing,100083 China) |
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| Abstract: | In this paper,we test China's monetary policy reaction function.The result shows that China's monetary authority not only reacts to bias of inflation and output according to Taylor rule,but also reacts to U.S.monetary policy variables.That is to say,when making monetary policy decisions,China's monetary authority has taken international game elements into account to some extent. |
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| Keywords: | Monetary Policy Reaction Function Taylor Rule |
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