流动性过剩对我国一般物价水平的影响  

Impact of excessive liquidity on China's general price level

作　　者：盛松成[1] 顾铭德[1] 陶昌盛[1] 雷宗怀[1] 

机构地区：[1]中国人民银行上海总部调查统计研究部,上海200120

出　　处：《上海金融》2008年第3期5-9,共5页Shanghai Finance

摘　　要：本文考察了20世纪80年代中期以来我国流动性与物价变动之间的关系,分析了1990年代中期后我国物价水平保持基本稳定的原因。同时,本文也指出,流动性过剩大大增加了我国物价未来走势的不确定性和复杂性,短期内必须警惕由局部供给短缺冲击和流动性过剩相互交织而产生的一般物价和资产价格"双上涨",中长期内还必须防范其他可能面临的风险。最后,在保持物价稳定的综合措施中,本文认为,应通过着力解决流动性过剩问题来改善宏观经济运行的基本环境。This article examines the relationship between liquidity and general price fluctuation since the second half of 1980s. It also contends that excessive liquidity exacerbates the uncertainty and complex of general price trend. In short term, we should keep alert to buoyant general price and asset price, which are caused by supply shortage and excessive liquidity. And in the long run, other risks may also appear. Finally, the article concludes that macro economic environment needs to be improved through resolving the excessive liquidity puzzle.

关 键 词：流动性过剩 一般物价 

分 类 号：F830[经济管理—金融学]