摘要
本文通过实证研究发现,货币供应量的冲击无法有效解释我国通货膨胀现象,超额的货币供应并不是影响我国通胀的重要原因,而居民对物价水平的预期却能解释未来通货膨胀的变化。因此,从通货膨胀治理的角度来说,调整货币供应抑制通货膨胀的作用非常有限,而通货膨胀预期管理也许更能起到平抑通货膨胀的作用。
Through an empirical study, we found that monetary shocks could not explain the phenomena of inflation significantly, which implied that the excessive money supply was not an important reason for the inflation in China. On the other hand, households＇ expectation on the retail price could predict the change of inflation rate. From this point, expectation management might be much more powerful than the policy of monetary supply to control inflation.
出处
《经济理论与经济管理》
CSSCI
北大核心
2011年第7期67-75,共9页
Economic Theory and Business Management
关键词
通货膨胀
货币供应
预期管理
inflation
monetary supply
expectation management
