[1]袁靖.基于DSGE模型对我国内生性货币特质的实证分析[J].金融教育研究,2013,(02):3-11.
　YUAN Jing.Empirical Analysis Based DSGE Model Naturally on Domestic Monetary Characteristics[J].,2013,(02):3-11.
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基于DSGE模型对我国内生性货币特质的实证分析()
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《金融教育研究》[ISSN:1006-6977/CN:61-1281/TN]

卷:
期数:
2013年02期
页码:
3-11
栏目:
出版日期:
2013-03-31

文章信息/Info

Title:
Empirical Analysis Based DSGE Model Naturally on Domestic Monetary Characteristics
作者:
袁靖;
山东工商学院统计学院,山东烟台,264005
Author(s):
YUAN Jing
关键词:
DSGE模型; 内生性货币; 似然比检验
Keywords:
DSGE model;  endogenous currency;  likelihood ratio test
分类号:
F822.0
文献标志码:
A
摘要:
货币内生性问题会涉及货币当局货币政策操作,尤其是中间目标选择,会影响货币政策传导机制并最终影响货币政策最终目标的实现。文章创新性地基于DSGE模型框架推导了内生货币和外生货币下模型解,并对我国货币内生性问题进行检验,实证结果显示我国货币内生性特征明显,中央银行以货币供给量为中介目标进行宏观调控显然是不可行的。因此,确立以利率为中间目标的宏观调控体系迫在眉睫。
Abstract:
Monetary endogeneity problem relates to the operation of the monetary policy of the monetary authorities,especially the intermediate target selection,and this will affect the monetary policy transmission mechanism and ultimately affect the realization of the ultimate goal of monetary policy.Innovation of this article is based on the framework of the DSGE model derived endogenous money and exogenous monetary model solution,and tests the endogeneity problem in our currency.The empirical results show that China's monetary endogeneity is obvious,and the central bank money supply as the intermediate target the macro-control is obviously not feasible.Therefore,establishing a macro-control system is imminent with interest rate as the intermediate target.

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备注/Memo

备注/Memo:
国家社科基金项目(12CTJ018); 国家教育部人文社会科学研究青年基金项目(12YJC910013)
更新日期/Last Update: 1900-01-01