Positivist Study on Chinese Monetary Policy Transmission Mechanism

摘要：

This paper,based on monthly data from Jan．2000 to Jun．2007，introducing interest rate，investment and consumption concepts and adopting modem computing／econometric techniques，has herein reviewed the coordinating relationships between GDP,money supply M2，M1，M0 and interest rate．Review findings indicate that between GDP,money supply M2，M1& M0 and interest rate，there exist long-term stable relationship，and M2，M1 & M0 and interest rate aro of significandy positive correlation with GDE Positivist analysis indicates that Chinese monetary policy has obvious impact on the operation of macro-economy,the reason is that money supply,as the intermediate objective of transmitting monetary policy,bears sensitive impact on final objective variables．

关键词： Monetary Policy GDP M2 Interest Rate Granger

作者: GUO Yaxiong

作者单位: School of accounting,Jiangxi University of Finance and Economic,P.R.China,330013

会议类型: 国际会议

会议名称: 2008 Conference on Regional Economy and Sustainable Development(2008区域经济与可持续发展国际学术会议)

会议地点: 济南

会议语种:英文

页码: 656-660

在线出版日期: 2008-11-01（万方平台首次上网日期，不代表论文的发表时间）