货币政策区域非对称性在中国的实证检验

Empirical Test on Regional Asymmetric of Monetary Policy in China

随着经济快速发展和区域经济差距逐渐拉大,货币政策的区域非对称性也逐渐成为理论界关注的焦点。使用SVAR模型与脉冲响应函数,定量分析了货币政策对我国各经济区域产出和物价影响的动态过程。研究结论表明,长期内我国货币政策对各地区的人均产出影响趋同,而对各地区的物价水平影响存在显著差异,而短期内货币政策冲击对各地区产出和物价在响应程度和时滞上都具有显著差异。

With the rapid economic development and regional economic disparities widened gradually,the effectiveness of monetary policy in the different region is becoming the focus of attention of theorists.This paper uses the SVAR models and impulse response function method to analyze the effect of china＇s unification monetary policies shock to output and prices of regional economies in 1994～2007.The result showed that in the long term,monetary policy acts the same effect on the output of all regions,while it acts the significant differences effect on price level.On the other hand,there are significant differences in the degree and the time lag on output and prices of all regions in the short term.