中国流动性过剩与资产价格关系的实证分析

近年来,我国的流动性过剩的现象日趋严重,并通过不同的渠道推动了房市和股市价格的上涨。一旦股市和房市的价格发生逆转,将对经济造成不可估量的损害。因此,我们应深刻的考虑这些潜在的风险问题,正确把握现代金融危机的本质,更好地制定适合我国经济发展和金融改革的货币政策。

Empirical Analysis of the Relationship Between Excess Liquidity and Asset Price in China

In recent years the excess liquidity in China is becoming increasingly serious,which in turn pushes the price of house and stock through various channels higher and higher.Once the house and stock market starts to drop,there will generate immeasurable damage to the economy.Therefore,we shall reflect on the potential risks and grasp the essence of modern financial crisis so as to design the monetary policies that help China's economic development and financial reform.