电子货币对货币需求利率弹性的影响分析

The Impact of Electronic Money on the Elasticity of Money Demand Interest Rate

通过将电子货币变量加入费雪方程式中,得出电子货币、货币流通速度与货币需求利率弹性的关系。研究表明,电子货币对货币需求利率弹性的影响不仅可以通过降低持币成本,亦可通过改变货币流通速度进而影响货币需求的利率弹性。根据推导后的模型发现,当货币流通速度受电子货币影响提升后,利率弹性随之降低;若货币流通速度降低,则利率弹性随之增加。

Studies have shown that the impact of electronic money on the elasticity of interest rates of mon-ey demand can not only reduce the cost of holding money,but also affect the elasticity of interest rates of money demand by changing the velocity of currency circulation.According to the derived model,it is found that when the velocity of currency circulation is increased by the influence of electronic money,the elastic-ity of interest rates will decrease;if the velocity of currency circulation decreases,the elasticity of in-terest rates will increase.