货币工资增长、效率空心化与复合型通货膨胀——基于2000—2015年中国省级面板数据的实证研究

Monetary Wage Growth,Efficiency Hollowness and Complex Inflation——An Empirical Study Based on Provincial Panel Data of China in 2000—2015

本文首次从货币工资增长与"效率空心化"的联合视角来研究中国通货膨胀的形成机理,利用2000—2015年中国30个省市的面板数据,实证分析了劳动生产率不断空心化背景下"工资-效率"增长的结构性缺口在中国复合型通货膨胀中所起的作用和影响效应。研究发现,"工资-效率"增长缺口不仅在微观上使得中国制造成本越来越昂贵,而且在宏观上容易导致物价水平上升的通货膨胀。该缺口在2008—2015年的影响显著强于2000—2007年,对东西部地区的影响显著强于中部地区,表明"工资-效率"增长缺口对通货膨胀的影响既存在明显的时期维度差异,也存在显著的空间地理差异,它与其他影响因素一道成为中国复合型通货膨胀的重要推手。

This article researches the formation mechanism of Chinas inflation first time from the combined perspective of monetary wage growth and efficiency hollowness,then empirically analyzes that how structural growth gap between wage and productivity plays its role and influences China s inflation by use of panel data from China s 30 provinces and cities in 2000-2015.The results show that growth gap between wage and productivity not only makes China's more and more expensive on the micro level,but also leads economy to inflation at the macro level.This gap has significantly stronger influence on inflation in 2008-2015 than in 2000-2007,and stronger impact on the eastern and western regions than the central region.It show that influence fromgrowth gap between wage and productivity has obvious difference in the dimension of time,and also has significant geographical difference.Along with other factors,it has become an important promoter of Chinese complex inflation.