货币供给、虚拟经济与通货膨胀——对通胀决定因素中货币供给与虚拟经济影响的再认识  

Money Supply,Fictitious Economy and Inflation

作　　者：何问陶[1] 王成进[1] 

机构地区：[1]暨南大学金融系,广东广州510632

出　　处：《财经研究》2008年第10期133-143,共11页Journal of Finance and Economics

摘　　要：主流经济学关于货币增长和价格水平之间关系的观点受到了来自理论和实证方面的挑战,虚拟经济的不断膨胀和泛化引发人们从虚拟经济的角度来重新认识这一关系。文章认为CPI是衡量价格水平的有效指标,在已有的关于虚拟经济本质和"虚实背离"的研究基础上,对传统货币供给与通胀一一对应关系进行重新分析,从需求和供给两个方面分析虚拟经济通胀水平的影响。通过实证分析我国CPI、M2和虚拟经济之间1997年前后的长期关系以及2006-2007年的短期关系,文章的理论分析得到了较好的支持。Traditional economic theories about the relationship between money supply and price level have been challerged by theoretical and empirical evidences. The increasing development and expansion of fictitious economy make people reconsider this relationship from the aspect of it. CPI is considered as a rational index for inflation. On the basis of previous studies on essence of fictitious economy and deviation between fictitious economy and real economy, this paper re-examines the relationship between money supply and inflation, and analyzes the effect of fictitious economy on inflation from the aspects of supply and demand. The theoretical analysis is supported by empirically analyzing the long-term and short-term relationships among CPI.M2 and fictitious economy

关 键 词：虚拟经济 货币供给:通胀 

分 类 号：F830.9[经济管理—金融学]