我国货币供应量对生产消费过程中物价的影响分析
发布时间：2018-08-07 16:47
【摘要】：物价的波动是货币政策重点关注的现象,很多国家将物价稳定作为本国的货币政策目标。货币政策的调整影响利率和货币供应量这两类金融指标,利率和货币供应量的变动又会对市场宏观经济指标带来影响。由于我国利率市场化程度不足,货币政策调控过程中利率渠道的作用相对不明显,货币供应量成为我国货币政策调控工具的主力,国家通过对各层次货币供应量的调整应对社会物价的变化。 为了应对金融危机可能带来的影响,我国政府在金融危机发生后推出了四万亿政策以刺激经济增长,这个时期的信贷扩张速度和货币供应量增加速度高于以往,随后我国出现了较为显著的通货膨胀现象。这一轮物价上涨的特征不仅体现在全体商品物价的普遍上涨,而且部分商品出现了幅度非常明显的价格波动,本文将关注此段时期的价格波动现象。 本文将首先从基础理论和现状两方面分析货币供应量对生产消费过程中处于不同阶段的商品价格带来的影响,探讨货币供应量对物价的普遍性影响以及货币供应量对产业链不同阶段物价带来的差异性变动。本文实证部分选取在生产消费过程中处于不同阶段的物价指数与货币供应量构建计量模型,通过实证方法验证货币供应量对不同类型物价的影响。本文的结论是,货币供应量的变动会影响物价的普遍价格变化,也会带来物价的相对价格变化,进而对我国资源配置、产业结构调整和收入分配都带来影响。因此,探讨货币供应量与物价的关系对我国货币政策调控来说有非常现实的经济意义,在货币政策制定过程中,应全面了解货币供应量对物价的影响情况。基于此,本文提出系列建议：坚持以稳定物价为货币政策目标、完善货币政策决策中的物价监控机制、推进市场化商品价格形成机制。
[Abstract]:Price fluctuation is the focus of monetary policy. Many countries take price stability as their monetary policy goal. The adjustment of monetary policy affects the interest rate and money supply, and the change of interest rate and money supply will have an impact on the market macroeconomic indicators. Due to the lack of marketization of interest rates in China, the role of interest rate channels in the process of monetary policy regulation is relatively insignificant, and money supply has become the main instrument of monetary policy control in China. The state responds to changes in social prices by adjusting the money supply at all levels. In order to cope with the possible impact of the financial crisis, the Chinese government launched a 4 trillion policy to stimulate economic growth after the financial crisis. During this period, credit expansion and money supply increased faster than before. Then there is a relatively significant inflation phenomenon in China. The characteristics of this round of price rise are not only reflected in the general rise of commodity prices, but also in some commodities have a very obvious range of price fluctuations, this paper will pay attention to the price fluctuations in this period. This paper will first analyze the influence of money supply on commodity prices at different stages in the process of production and consumption from two aspects: basic theory and current situation. This paper probes into the general influence of money supply on price and the difference between money supply and price in different stages of industrial chain. The empirical part of this paper selects the price index and money supply which are in different stages in the process of production and consumption to construct the econometric model and verifies the influence of money supply on different types of prices through the empirical method. The conclusion of this paper is that the change of money supply will influence the general price of price and the relative price of price, which will affect the allocation of resources, the adjustment of industrial structure and the distribution of income. Therefore, discussing the relationship between money supply and price has very realistic economic significance for China's monetary policy regulation. In the process of monetary policy formulation, we should fully understand the influence of money supply on price. Based on this, this paper puts forward a series of suggestions: persist in taking stable price as monetary policy objective, perfect price monitoring mechanism in monetary policy decision, and promote market-oriented commodity price formation mechanism.
【学位授予单位】：天津财经大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F726;F822.2
本文编号：2170695
[Abstract]:Price fluctuation is the focus of monetary policy. Many countries take price stability as their monetary policy goal. The adjustment of monetary policy affects the interest rate and money supply, and the change of interest rate and money supply will have an impact on the market macroeconomic indicators. Due to the lack of marketization of interest rates in China, the role of interest rate channels in the process of monetary policy regulation is relatively insignificant, and money supply has become the main instrument of monetary policy control in China. The state responds to changes in social prices by adjusting the money supply at all levels. In order to cope with the possible impact of the financial crisis, the Chinese government launched a 4 trillion policy to stimulate economic growth after the financial crisis. During this period, credit expansion and money supply increased faster than before. Then there is a relatively significant inflation phenomenon in China. The characteristics of this round of price rise are not only reflected in the general rise of commodity prices, but also in some commodities have a very obvious range of price fluctuations, this paper will pay attention to the price fluctuations in this period. This paper will first analyze the influence of money supply on commodity prices at different stages in the process of production and consumption from two aspects: basic theory and current situation. This paper probes into the general influence of money supply on price and the difference between money supply and price in different stages of industrial chain. The empirical part of this paper selects the price index and money supply which are in different stages in the process of production and consumption to construct the econometric model and verifies the influence of money supply on different types of prices through the empirical method. The conclusion of this paper is that the change of money supply will influence the general price of price and the relative price of price, which will affect the allocation of resources, the adjustment of industrial structure and the distribution of income. Therefore, discussing the relationship between money supply and price has very realistic economic significance for China's monetary policy regulation. In the process of monetary policy formulation, we should fully understand the influence of money supply on price. Based on this, this paper puts forward a series of suggestions: persist in taking stable price as monetary policy objective, perfect price monitoring mechanism in monetary policy decision, and promote market-oriented commodity price formation mechanism.
【学位授予单位】：天津财经大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F726;F822.2
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