摘要
With the acceleration of economic globalization and financial liberalization,factors of asset prices such as stock,bond and real estate and so on become important economic variables that affect inflation. After a brief review of the latest literature,this paper analyzes the specific conduction mechanism from different aspects of consumption,investment,credit and exchange rate channels in which asset prices affect inflation. Then,this paper analyzes the monthly data from January,2002 to December,2013 with the PLS method(partial least squares regression method)and discusses whether a structural change has taken place in the inflation mechanism during this period. Finally,policy recommendations are provided.
With the acceleration of economic globalization and financial liberalization, factors of asset prices such as stock, bond and real estate and so on become important economic variables that affect inflation. After a brief review of the latest literature, this paper analyzes the specific conduction mechanism from different aspects of consumption, investment, credit and exchange rate channels in which asset prices affect inflation. Then, this paper analyzes the monthly data from January, 2002 to December, 2013 with the PLS method （ partial least squares regression method） and discusses whether a structural change has taken place in the inflation mechanism during this period. Finally,policy recommendations are provided.
出处
《学术界》
CSSCI
北大核心
2014年第4期278-282,共5页
Academics
