摘要
运用我国1998年1月～2010年6月的数据,采取理论与实证分析相结合的方法研究货币政策与资产价格的动态相关性。实证分析的结果表明,央行不应直接将资产价格作为货币政策的目标,制定货币政策时应高度关注资产价格的变化,还应充分地、前瞻地考虑货币政策对资产价格的影响,并将资产价格未来变动趋势作为影响货币政策有效性的重要参考因素之一。
The paper use the monthly data between 1998～2009,and will study the dynamic correlation of Chinese monetary policy and asset price in the ways of both theoretical analysis and empirical analysis.The paper suggests that central bank should not regard the asset price as the target of monetary policy,and the central bank should not only pay more attention to the change of asset price,but also consider influnence of monetary policy on asset price while it also need to regard the future trend of asset price as an important factor to monetary policy.
出处
《经济问题》
CSSCI
北大核心
2011年第3期21-23,共3页
On Economic Problems
关键词
货币政策
资产价格
相关性
monetary policy
asset price
correlation
