摘要
期货指数在国外已成为通货膨胀的早期预警指标,对中央银行货币政策制定与调整发挥着重要的指示作用。我国期货市场经过不断的规范与发展后,其价格发现功能不断完善,对宏观经济的先行作用开始显现。本文通过计算我国农产品期货价格指数,通过检验其与CPI的实证关系,论证了我国农产品期货价格指数对CPI的先行指示作用。
The futures index has been the early-warning indicator of inflation in foreign countries.It is impor- tant for the central bank to make and adjust the Monetary Policy.With the constantly regulation and develop- ment of the domestic futures market,the function of price discovery is kept on improving and the leading effect to the Macro-economy is emerging.The paper verified the leading effect of futures price index of farm prod- ucts in our country on CPI,mainly through calculating,analyzing the futures price...
出处
《金融研究》
CSSCI
北大核心
2006年第11期103-115,共13页
Journal of Financial Research
关键词
期货市场
价格指数
先行指标
futures market
price index
leading indicator
