我国货币流动速度的波动特征分析

Analysis on the Fluctuation Characteristics of Chinese Currency Flow Speed

随着我国金融市场的发展,收入型费雪方程式对我国货币流动速度的测度越来越失去经济价值。文章首先综合分析商品市场和金融市场构建货币流动速度的测度,然后采集季度数据获取充实的数据源,并根据货币流动速度概念分析数据采样方式对速度计算的影响,采用ADF检验和傅里叶检验对比分析数据中可能存在的非线性特征。实证结果表明,我国货币流动速度呈现出下降的趋势,波动过程中呈现出平稳性的特征。

With the development of China's financial market,the measurement of the rate of currency flow in China by the incomebased Fisher equation is losing economic value.The article first comprehensively analyzes the commodity market and financial market to construct a measure of the speed of currency flow,then collects quarterly data to obtain a sufficient data source,and analyzes the impact of data sampling methods on speed calculation according to the concept of currency flow speed.ADF test and Fourier test Comparative analysis of possible non-linear features in the data.The empirical results show that the speed of currency flow in China has shown a downward trend,and the characteristics of stability in the process of fluctuations.