人口老龄化与货币政策有效性被引量：12

Aging and the Effectiveness of Monetary Policy

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摘要中国人口老龄化现象不断加重,研究人口老龄化对相关经济问题的影响具有重要意义。现有文献对货币政策有效性下降的现象提供了诸多解释,但关注人口老龄化对货币政策有效性影响的文献较少。为此首次建立了中国包含人口老龄化因素的DSGE模型,研究了人口老龄化对中国货币政策有效性的影响。结果发现,货币政策有效性将随着人口老龄化加重而下降。这意味着,货币政策在老龄化社会必须更加"激进"。同时应通过相应的人口政策,延缓老龄化进程。 With the increase of China＇s ageing population, the research of the economic problems caused by aging pop- ulation is of great significance. In recent years, however, the related literature provide a number of explanations for the decline of effectiveness of monetary policy, but few focus on the impact of aging on the effectiveness of monetary policy. Therefore, this paper establishes the first DSGE model including aging factors of our country, aiming to explore the influ- ence of aging on the effectiveness of monetary policy in China. It comes to a conclusion that the effectiveness of monetary policy will decline with the aging tenor. This means that monetary policy should be more ＂radical＂ in the aging society, and at the same time, some population policy should be adopted to remit the aging process.

作者周源唐晓婕

机构地区江苏省金融学会

出处《西安交通大学学报（社会科学版）》 CSSCI 北大核心 2015年第5期25-32,共8页 Journal of Xi'an Jiaotong University：Social Sciences

基金国家自然科学基金项目(71272239)

关键词人口老龄化人口年龄结构货币政策泰勒规则 aging age structure monetary policy Taylor Rule

分类号 F820.1 [经济管理—财政学]

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