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公债货币化对货币供应量的影响

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摘要 在发达经济体频繁采用公债货币化操作和我国"地方债务置换"的大规模开展,理清公债货币化与货币供应量之间的关系效用,是具有一定现实意义的。本文以有向无环图(DAG)分析模型,对我国的公债货币化是否具影响货币供应量的变化这一问题进行了研究,实证分析发现:我国开展公债货币化操作对货币供应有较显著的影响,货币政策的执行在一定程度上受制于财政政策。
作者 韩永春
出处 《青海金融》 2017年第6期7-10,共4页 Qinghai Finance
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