|
|||||
|
|
| 基于STVAR的货币政策效果非对称性 | |
| 引用本文： | 彭方平,吴强,展凯. 基于STVAR的货币政策效果非对称性[J]. 系统工程, 2008, 26(3): 40-44 |
| 作者姓名： | 彭方平 吴强 展凯 |
| 作者单位： | 1. 中山大学,管理学院,广东,广州,5102751 2. 华南师范大学,经济与管理学院,广东广州,510006;中南财经政法大学经济学院,湖北,武汉,430073 3. 广东外语外贸大学,经贸学院,广东,广州,510008 |
| 基金项目： | 教育部人文社会科学研究项目 , 中山大学校科研和教改项目 |
| 摘 要： | 应用STVAR模型,对中国信贷周期变化与货币政策效果的非对称性进行研究.研究表明:(1)中国货币政策存在明显的"价格之谜"现象,且该现象在信贷扩张状态下表现更显著;(2)相比信贷扩张状态,信贷紧缩状态时,货币政策的产出效益更显著.基于上述结论进一步提供相关政策建议. |
| 关 键 词： | 货币政策 非线性效应 模拟退火 平滑转移 货币政策 政策效果 对称性 Model Based Monetary Policy Effect 政策建议 相关 产出效益 扩张状态 信贷紧缩 表现 现象 价格 存在 研究 周期变化 中国 模型 |
| 文章编号： | 1001-4098(2008)03-0040-05 |
| 修稿时间： | 2007-11-16 |
The Asymmetry of the Effect of Monetary Policy Based on STVAR Model |
|
| PENG Fang-ping,WU Qiang,ZHANG Kai. The Asymmetry of the Effect of Monetary Policy Based on STVAR Model[J]. Systems Engineering, 2008, 26(3): 40-44 | |
| Authors: | PENG Fang-ping WU Qiang ZHANG Kai |
| Affiliation: | PENG Fang-ping1,WU Qiang2,3,ZHANG Kai4(1.School of Business,Sun Yat-sen University,Guangzhou 510275,China,2.School of Economics , Management,Suoth China Normal University,Guangzhou 510006,3.School of Economy,Central South University of Economics , Law,Wuhan 437000,4.School of International Trade & Economy,Gu,ong University of Foreign Studies,China) |
| Abstract: | The paper firstly studies cyclical variation of credit and the asymmetry of the effect of Chinese monetary policies transmission by applying the STVAR model.The results show that: firstly,there exists a significant price puzzle phenomena in Chinese monetary policy,and when credit is in expansion this phenomena is stronger;secondly,the product effect of monetary policy is stronger when credit is in expansion than when credit is in contraction. Some policy advice is further provided based on above conclusions... |
| Keywords: | Monetary Policy Nonlinear Effects Simulated Annealing Smooth Transition |
| 本文献已被 CNKI 维普 万方数据 等数据库收录！ | |