Research on Mutual Dynamic Influence Between Shibor and Monetary Policy

摘要：

Shibor provides condition for the monetary policy to change from quantity control to price control because it is a new interest rate index system of money market. Dynamic influence of Shibor and monetary policy has been analyzed by using a vector auto-regression (VAR) model. The results show that, Shibor reflects the demand of money market in short time and it is related with the interest rate; Shibor responds to the monetary policy significantly, which means that Shibor has the marketized characteristic and reflects the validity of monetary policy.

关键词： Shibor Monetary policy Interest rate VAR

作者: Min Tian Chunqing Li

作者单位: School of Economics and Management, Xian Technological University, Xian, 710032, China

会议类型: 国际会议

会议名称: 第八届武汉电子商务国际会议(The Eighth Wuhan International Conference on E-Business)

会议地点: 武汉

会议语种:英文

页码: 1473-1477

在线出版日期: 2009-05-30（万方平台首次上网日期，不代表论文的发表时间）