我國貨幣政策利率傳導機制有效性實證分析

我國貨幣政策利率傳導機制有效性實證分析

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時間:2019-02-01

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1、mechanismofmonetarypolicy.InthepartofthetheoryofInterestratetransmissionmechanismofmonetarypolicyareexpoundedtheinterestratetransmissionmechanismtheoryoftheWicksell,theinterestratetransmissionmechanismtheoryofKeynes,HicksandHansen'stheoryofthetransmissionmechanismofinterestrate,theinterestrat

2、etransmissionmechanismtheoryofTobintheory,andTaylor'sruleandhistheoryoftheinterestratetransmissionmechanismofmonetarypolicy.Thethirdchapterintroducesthestatusofourcountry’sinterestratetransmissionmechanismofmonetarypolicy.ItincludestheintroductionofChina'smonetarypolicytransmissionmechanisman

3、dtheconductionpathofthecontrolledinterestrateandmarketinterestrateofchina.CommentingthemonetarypolicytransmissionmechanisminChina,analyzingthesituationofthecontrolledinterestrateandmarketinterestratecoexistinchina,andthepresentstatusoftheinterestratetransmissionmechanismofmonetarypolicy.Thefo

4、urthchapterisaboutempiricallyanalyzingtheeffectivenessofinterestratetransmissionmechanismofmonetarypolicyinchina.Firstintroducestherelatedeconometrictheoryandeconometricmodel.Thenstatesvariablesselection,illustratesthedataandthedataprocessingandstabilitytest.Thispaperselectsvariableindexofmon

5、eysupply,interestrateindex,consumptionindex,investmentindex,yieldindexandpriceindex.Afterthat,byusingeconometricresearchmethodssuchasVAR,VECmodel,andco-integrationtest,GraingerGrangercausalitytest,impulseresponseanalysis,variancedecompositionanalysisandsoon,theempiricalanalysisarecarriedonfro

6、mthefollowingfiveaspects:theempiricalanalysisofmarketinterestrateconductionpathofmonetarypolicy,theempiricalanalysisofthecontrolledinterestrateconductionpathofmonetarypolicy,thecomparativestudyoftheconductioneffectivenessonmarketinterestrateandthecontrolledinterestrateaffectingconsumption,the

7、comparativestudyoftheconductioneffectivenessonmarketinterestrateandthecontrolledinterestrateaffectinginvestment,thecomparativestudyoftheconductioneffectivenessonmarketinterestrateandthecontrolledinterestrateaffectingtotaloutputandprice.Thisis

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