我国居民储蓄行为对货币政策信息的反应探析

A Probe into the Reaction of Household Saving Behavior to Currency Policy Information

在我国,居民在银行的储蓄存款占据居民金融资产的绝大部分比例。居民储蓄率的居高不下是我国高昂固定资产投资的重要来源,同时也导致了居民消费水平持续低迷。居民作为宏观经济重要的微观基础,是国家宏观调控的最终落脚点,我国中央银行在对居民储蓄行为信息的发觉、处理以及对策制定上的能力有所欠缺,导致居民的储蓄行为对货币政策信息的反应迟钝,削弱了货币政策对公众预期的管理效果。

In China, household saving is a major part in the overall of financial assets. The high rate of household saving on the one hand provides the essential source for fixed assets investment, on the other hand leads to low consumption level. As a micro-basis of the macro-economy, resident is the uhimate end of national macro-control. The policy-making and household saving information detecting of the central bank in China are lagged behind, which resu｜ts in the tardy reaction of household saving to currency policy information and further weakens the anticipated public management effects of currency policy.