利率市场化进程中利率渠道的动态变化机制研究

发布时间：2018-02-23 18:13

本文关键词： 利率市场化利率传导机制货币政策 TVP-VAR模型　出处：《金融理论与实践》2017年02期 　论文类型：期刊论文

【摘要】：借助带有随机波动率的TVP-VAR模型,实证研究了利率市场化进程中利率渠道传导效应的动态变化。实证研究显示,随着我国利率市场化改革的推进,货币政策市场利率渠道的传导效应在不断增强,管制利率渠道的传导效应在不断减弱,市场利率传导效应的不断增强主要是我国经济金融环境不断深化的结果。基于以上实证结果,给出了我国进一步完善利率渠道传导机制的相关政策建议。
[Abstract]:With the help of the TVP-VAR model with random volatility, this paper empirically studies the dynamic change of interest rate channel conduction effect in the process of interest rate marketization. The empirical study shows that with the development of interest rate marketization reform in China, The transmission effect of the interest rate channel in the monetary policy market is increasing, while that of the control interest rate channel is weakening. The increasing of the market interest rate conduction effect is mainly the result of the deepening economic and financial environment in China. Based on the above empirical results, the relevant policy suggestions on how to further improve the transmission mechanism of interest rate channels in China are given.
【作者单位】：安徽大学;宿州学院;
【分类号】：F832.31

【相似文献】