摘要
2008年美国爆发次贷危机,造成了经济长期低迷和失业率上升。为了挽救经济的颓势,美国采取了非常规的量化宽松货币政策,向市场释放了大量的流动性货币,对我国通货膨胀造成了强烈的冲击。文章利用VAR模型,通过实证检验美国货币供应量、双边汇率、国际大宗商品价格、我国货币供应量与我国通货膨胀之间的动态关系,得出结论,美国量化宽松政策会对我国通货膨胀造成冲击,短期内会促进我国通货膨胀,但从长期看会起抑制作用。
In 2008, the mortgage crisis of the United States caused by the long-term economic downturn and rising unemployment. In order to save the economic slump, the United States adopted the non convention- al monetary policy of quantitative easing, and released a lot of liquidity to the market, which had a strong impact on inflation in China. In this paper, using the VAR model, the dynamic relationship between the empirical test of the United States money supply, the bilateral exchange rate, international commodity prices, China^s money supply and inflation, the final conclusion is that the United States quantitative ea- sing policy will have an impact of inflation in China, and promot China^s inflation in the short term, but in the long term will play an inhibitory effect.
出处
《西安财经学院学报》
CSSCI
2014年第3期44-49,共6页
Journal of Xi’an University of Finance & Economics
关键词
货币量化宽松政策
货币政策
通货膨胀
实证检验
monetary quantitative easing policy
monetary policy
inflation
the empirical test
