摘要
通过对居民金融资产结构的变迁进行分析,论证了居民储蓄在准货币增长中所具有的重要位置。在不确定性、流动性约束和预防性储蓄理论假设的基础上,从我国经济改革以来的经验事实出发,验证了我国城乡居民在经济行为过程中存在流动性约束和预防性储蓄的事实,并在理论上对居民储蓄推动准货币快速增长的机制给予了证明。对我国城镇居民和农村居民消费行为的检验证实了不确定性和流动性约束的存在能够刺激居民预防性储蓄动机的增加,导致准货币增长,并最终推动超额货币供给的产生。
Based on the analysis of the residents＇ financial assets structure changing, this article demonstrates the important position of the household savings in the quasi - money growth. In uncertainty, liquidity constraints and precautionary savings hypothesis, based on China＇s economic reform facts, this article certified the liquidity constraints and the fact of precautionary savings in China＇ s urban and rural residents＇ economic behavior, and put forward the hypothesis in theory that the savings may promote the rapid growth of quasi - money. On China＇s residents and rural residents consumption behavior confirmed： uncertainty and liquidity constraints may stimulate the residents＇ precautionary savings motive growth, which result in quasi- money growth and, ultimately, to promote the emergence of excess money supply.
出处
《山西财经大学学报》
CSSCI
北大核心
2009年第6期79-84,共6页
Journal of Shanxi University of Finance and Economics
关键词
预防性储蓄
超额货币
消费敏感性
precautionary savings
excess money
consumer sensitivity
