在货币“洪流”中挣扎的劳动者——货币数量与劳动者福利关系的实证分析

Chinese Workers Struggling in the Currency “Flood”:An Empirical Analysis of Quantity of Money and Welfare of Workers

近年来中国货币数量的大幅度增加,可能影响了劳动者的福利。本文利用1993-2011年的省际动态面板数据,研究了货币数量与整体劳动收入占比、在职职工实际工资增长率及失业率这三个劳动者福利变量的关系及出现此种关系的原因。从两者关系来看,中国货币数量的增多整体上降低了劳动收入占比,但对在职职工工资增长率、失业率的影响方向不确定;货币数量的增多还很可能带来资本所有者和劳动者的分化以及劳动者内部的分化。从原因来看,货币数量增多损害劳动者福利的主要原因是国有企业投资、民营企业投资、银行信贷投资、国家预算投资和房地产投资五个因素。

In recent years, the economy had a rapid and stable growth in China, but the quantity of money increased rapidly. A significant increase in the quantity of money may affect the welfare of Chinese workers. This paper which used 1993 - 2011 years of inter - provincial dynamic panel data of China, researched the relationship between the quantity of money and the welfare of workers, in which the welfare of worders includes three indexes the overall labor income share, the growth rate of real wage of employees and the rate of unemployment. The increase in the number of Chinese currency reduced the overall labor income share, but had uncertain impacts on the other two indexes. And the increase may bring about the differentiation of capitalists and labors, as well as the internal differentiation of labors, the main reasons that damage the welfare of workers are state - owned enterprises investment, private business investment, bank loan investments, budge investment and real estate investment.