摘要
随着信息技术的快速发展,货币电子化成为新的趋势。为了研究电子货币对货币政策的影响,本文从微观主体持币动机的角度,分别应用鲍莫尔-托宾模型、冯诺依曼-摩根斯坦效用函数和惠伦模型来分析电子贷币对微观主体持币的交易、投机和预防动机产生的影响。研究结果表明,电子货币的发展会对微观主体的现金交易需求产生替代,但是替代不完全;几乎完全替代现金的投机需求;在预防需求方面,电子货币不仅会对现金产生替代,还会对更高层次的货币产生替代。
With the rapidly development of information technology,the currency is more and more electronized,For the purpose of finding out the meaning of that trend to monetary policy,this paper conducts a study from the angle of micro motives of holding money by applying Baumol-Tobin model,von Neumann-Morgenstern utility function and Whalen model.The results show that with the development of electronic money,micro transaction motive will be partly substituted,speculative motive will be fully substituted,and the precautionary motive both in currency and the higher-level money will be partly substituted as well.At the end of this paper,we summarize some influences of electronic money on monetary policy.
出处
《南方金融》
北大核心
2011年第3期14-19,共6页
South China Finance
关键词
电子货币
交易需求
投机需求
预防需求
Electronic Money
Transaction Motive
Speculative Motive
Precautionary Motive
