摘要
效应时滞是影响货币政策有效性的一个不容忽视的重要因素。本文运用时差相关系数法和脉冲响应函数法对我国 1 993——— 2 0 0 1年货币政策宏观调控的效应时滞分别进行了实证研究 ,结果表明我国货币政策无论是对经济产出还是对价格的影响均是存在一定的效应时滞的 ,中央银行应提高对货币政策效应时滞的预测能力 ,为前瞻性货币政策决策提供准确的实证依据。
The time lag is one of the important factors affecting the monetary policy.This paper demonstratively researches into the influence of time lag in China during the sample period of 1993-2001.The results based on the Cross Correlation Coefficient and Impulse Respond Function shows that there is some time lag on both real output and price.China Central Bank should improve the ability to forecast the time lag to provide the demonstrative evidence to implement the proper monetary policy.
基金
浙江省规划课题资助项目 (XK0 1 1 6)
