| 我国货币供应量增量对物价波动的影响——基于STR模型的实证分析 |
| Influence of Money Supply Increment on Price Fluctuation in China:Empirical Analysis Based on STR Model |
| 投稿时间：2014-12-25 |
| 中文关键词:货币供应量增量 STR模型 物价波动 |
| 英文关键词:money supply increment STR model price fluctuation |
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| 中文摘要: |
| 在对我国货币供应量对物价水平波动影响的研究中，往往忽略了货币供应量的非对称性，这种非对称性导致了两者并不是简单的线性关系；另外从交易方程式推导的函数可以看到，货币供应量增量才是影响物价波动的重要因素，而不是货币供应量本身。因此，本文采用1997—2013年的月度数据，以逻辑型函数为转换函数的STR模型对我国货币供应量增长率与物价波动的影响关系进行实证分析。结果表明，我国货币供应量增长和物价水平波动之间具有复杂的非线性关系，滞后期的货币供应量增量对物价波动的影响程度比当期货币供应量增量对物价波动的影响要大许多。同时，当货币供应量增量大于和小于某一临界值时，物价水平的波动呈现非对称性。 |
| 英文摘要: |
| In previous researches, the influence of the money supply on the price fluctuation in China is usually ignored the asymmetry of money supply, while just the asymmetry leads to the non simple linear relationship between money supply and the price fluctuation, and the function deduced from transaction equation presents that the increment of money supply is the important factor affecting the price fluctuation rather than money supply itself. Therefore, using monthly data from 1997 to 2013, influence relationship between money supply growth rate and price fluctuation is analyzed empirically based on STR model. The results show that between the growth of money supply and price level fluctuation there is a complex nonlinear relationship, the money supply increment of the lag period has a bigger impact on price fluctuation than the current money supply. Meanwhile, when the money supply increment is above and below a critical value, price fluctuation presents asymmetry. |
| 胡彦君,潘焕学,邹玉.我国货币供应量增量对物价波动的影响——基于STR模型的实证分析[J].石家庄铁道大学学报(社会科学版),2015(2):28-32,47. |
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