货币政策对央行资产负债表影响的实证研究

An Empirical Study on the Influence of Monetary Policies on the Balance Sheets of Central Bank

本文以2000-2008年央行资产负债表为研究对象,采用定量研究的方法探讨货币政策对其影响的方式和程度,并得出货币政策对央行资产负债表的多个重要科目都有显著影响的结论。研究表明,尽管我国的货币政策还受很多因素的制约,但其传导渠道基本畅通,近年来所实施的货币政策卓有成效。在此基础上,本文就完善当前货币政策提出了建议。

According to 2000-2008 balance sheets of central bank , this paper uses quantitative research methods to investigate the approaches and extent that monetary policies effected this sheet, and makes the conclusion that monetary policies have remarkable influence on several important subjects of this sheet. It also shows that, in spite of being affected by many factors, the conduction channels of monetary policies have been basically smooth, and the effectiveness has been obvious in recent years. On this basis, this paper also makes recommendations to improve the current monetary policies.