摘要
汇率是货币政策传导的重要渠道之一,但由于各国的汇率制度和市场健全性存在较大差异,汇率传导的有效性也就不尽相同。在对中国2000-2004的数据进行实证分析后可以得出结论:在单一盯住美元的汇率制度下,不仅货币供应量变动对汇率变动的传导,而且汇率变动对工业增加值变动的传导都不是很有效的。
Exchange rate is one of most import channel of transmission of monetary policy;but there are differences between different country on the effects of exchange rate transmission because of different exchange rate policy. After making an empirical analysis on the data from 2000 to 2004 ,we find out it loses its effectiveness on transmission not only in the change of supply of money to the change of exchange rate,but also in the change of exchange rate to the change of value added to gross industrial output value in a fixed exchange rate regime pegging single dollar.
出处
《湘潭大学学报（哲学社会科学版）》
北大核心
2006年第2期52-58,共7页
Journal of Xiangtan University:Philosophy And Social Sciences
基金
湖南省百人工程项目资助(05BR01)
关键词
货币政策
名义汇率
实际汇率
VAR模型
monetary policy
nominal exchange rate
real exchange rate
VAR model
