摘要
对动态货币需求模型的实证表明,一年期存款利率的变化对货币需求不产生影响,货币需求只受到前一期GDP平减指数、收入和前一期货币需求的影响。在影响货币需求的三个主要因素中,由于货币需求的惯性较大,前一期货币需求对本期货币需求的影响最大,其次是GDP对本期货币需求的影响,前一期的GDP平减指数对本期的货币需求影响最小,影响程度的弹性差异最大为1.86倍。因此,利率机制在目前的条件下还不能作为调控经济的有效手段。
The empirical test for dynamic monetary demand model reveals that the variety of one-year deposit rates do not affect the demand for money. The demand for money is only affected by the previous-term GDP deflator, gross income and the previous-term demand for money. In the three key factors, the previous-term demand for money is the most important because of its inertia; next to it is the GDP; and the least is previous-term GDP deflator. The biggest difference of impact elasticity is 1.86 times, The conclusion is that interest rate mechanism still cannot act as an efficient instrument in macro-control.
出处
《当代经济管理》
2009年第7期79-82,共4页
Contemporary Economic Management
基金
广东外语外贸大学人文社科重点研究基地WTO与广东经贸研究中心重大研究课题(GWGDJM07002)阶段性成果
