Non-Linear Model for Chinas Money Demand Function

摘要：

In order to study the nonlinear characteristic of Chinas money demand function,this paper adopted STAR (smooth transition auto regression) model to make the empirical test.The result indicated that Chinas money demand function had significant nonlinear characteristics and the transition variable was one lag of real national income,rather than the inflation rate,the conversion rate was significant,but slow,the slope value of the transfer function was2.64.Finally,this article suggested that the fiscal policy and monetary policy should be different according to the variation of real income.

关键词： Demand for money Exponential smooth transition regression Real income

作者: ZHANG Lei ZHANG Zong-cheng

作者单位: School of Economics Huazhong Univ.of Science and Technology Wuhan,China School of EconomicsHuazhong Univ.of Science and technology Wuhan,China

会议类型: 国际会议

会议名称: 2010 2nd IEEE International Conference on Information and Financial Engineering(2010年第二届IEEE信息与金融工程国际会议 ICIFE 2010)

会议地点: 重庆

会议语种:英文

页码: 870-872

在线出版日期: 2010-09-17（万方平台首次上网日期，不代表论文的发表时间）