摘要
货币流通速度不仅受实体经济影响,而且受虚拟经济影响,本文运用实证分析方法探讨货币市场基金对货币流通速度是否产生影响,结果表明货币市场基金收益率变动是货币流通速度变动的格兰杰原因,两者正相关,可根据货币市场基金收益率和一年期国债收益率预测货币流通速度,货币政策实施效果受货币流通速度影响,管理者可通过调整货币市场基金政策稳定货币流通速度。
The velocity of money circulation does not affected by real economy but affected by fictitious economy. The object of the study is to use method of empirical analysis to investigate whether the money market fund will affect the velocity of money circulation or not. The result appears that the changes of money market funds＇ yield are the Granger-causes of the money circulation＇s velocity and they have a positive correlation. Base on the yields of money market funds and the yields of one-year-bonds, the velocity of money circulation is predictable. The velocity of money circulation do affect the potency of monetary policy which means the policy makers can stabilize the velocity of money circulation by adjusting monetary market funds policies.
出处
《特区经济》
2014年第9期97-99,共3页
Special Zone Economy
关键词
货币市场基金
货币流通速度
货币政策
monetary market fund
The velocity of money circulation
Monetary policy
