摘要
运用结构向量自回归模型方法,检验了开放经济条件下我国货币政策的传导机制和作用效果。检验发现,通货膨胀率、名义利率和名义汇率都对GDP增长率冲击具有敏感的反应,而名义利率也对名义汇率冲击具有显著反应,这说明外国货币政策已经通过汇率渠道对我国货币政策产生了影响。
The structural vector auto regression model was used to test the effects of Chinese monetary policy the economy under the open economy conditions. It is found that the inflation rate, interest rate and exchange rate is sensitive to the output shocks and interest rate is sensitive e to the exchange rate shock. It is concluded that the foreign monetary policy influences our monetary policy through the channel of exchange rate.
出处
《管理学报》
2007年第3期330-335,共6页
Chinese Journal of Management
基金
国家自然科学基金资助项目(70471016)
国家社会科学基金资助项目(05BJL019)
教育部人文社会科学重点研究基地资助项目(05JJD790078)
