摘要
运用Granger因果检验和脉冲响应函数对1986~2014年我国货币供应量M2和房地产投资两个时间序列进行建模分析,结果表明:我国的货币政策与房地产发展存在单向因果关系,即货币供应量M2的增加会促进房地产业的发展,并且这种作用在滞后2~3期时效果最明显;相反,房地产业的发展对我国货币政策的影响不显著。
The paper uses granger causality test and impulse response function to build the model about the two time series of M2 and real estate investment in 1986 to 2014. The results show that there is a one-way causal relationship between monetary policy and real estate development. That is,the increase of money supply will promote the development of real estate industry,and the effect of 2-3 periods is the most obvious. In contrast,the effect of real estate development on monetary policy is not obvious.
出处
《建筑经济》
2016年第2期60-64,共5页
Construction Economy