货币政策对城乡收入分配的冲击效应

The Impact of Monetary Policy on the Distribution of Urban and Rural Income

目前,货币政策与收入分配失衡之间的关系受到越来越多的关注。本文在理论层次总结了货币政策对收入分配的四个影响渠道:通货膨胀渠道、要素异质性渠道、信贷渠道、非常规货币政策渠道。在实证层次基于VAR模型分析了通货膨胀、货币供应和信贷供给对城乡居民收入的影响,并结合我国目前货币政策与收入失衡的现状提出了相关对策,以期能推动这一领域的深入研究以及货币政策的制定与完善。

The relationship between monetary policy and income distribution imbalance has been paid more and more attention on nowadays. This paper indicates four channels of the influence of monetary policy on income distribution imbalance at the theoretical level, which are inflation channel, factor heterogeneity channel, credit channel and unconventional monetary policy channel. And in the empirical analysis chapter, based on the VAR model, the impact of inflation, money supply and credit supply on urban and rural residents＇ income is analyzed in this paper. At last, several suggestions are proposed in the hope to put research in this field forward and perfect the formulation of monetary policy.