货币政策关注股票市场必要性的实证研究

发布时间：2018-05-18 01:30

本文选题：货币政策 + 股票市场　；参考：《云南财经大学学报》2011年04期

【摘要】：运用线性和非线性G ranger因果检验,以及非线性平滑转换回归方程(STR)模型对中国货币政策关注股票市场的必要性进行研究。研究结果表明:中国货币政策应该关注股票市场;从长期来看,货币政策关注股票市场的必要性来源于股票价格变动对经济增长和物价水平的影响以及股票价格变动对货币需求的影响等方面,但短期内,关注的必要性仅来源于后者;关注方式要随着股票市场波动性的变化而不同。
[Abstract]:Using linear and nonlinear G ranger causality test, as well as nonlinear smooth transformation regression equation model, the necessity of Chinese monetary policy to pay attention to stock market is studied. The results show that China's monetary policy should focus on the stock market; in the long run, The necessity of monetary policy to pay attention to stock market comes from the influence of stock price change on economic growth and price level, and the influence of stock price change on monetary demand, but in the short term, the necessity of concern comes only from the latter. Pay attention to the way to change with the volatility of the stock market.
【作者单位】：首都经济贸易大学经济学院;首都经济贸易大学数量经济研究中心;首都经济贸易大学;
【基金】：北京市高等学校人才强教深化计划高层次人才资助项目(PHR20100513) 北京市优秀博士学位论文指导教师人文社科项目(YB20091003801)
【分类号】：F224;F822.0;F832.51

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