1960～2005年日本外汇储备的宏观经济效应分析  

An Analysis of the Macroeconomic Effect of Japan’s Foreign Exchange Reserve during 1960-2005

作　　者：郝雁[1] 杨子江[1] 

机构地区：[1]广东外语外贸大学,广州510420

出　　处：《广东外语外贸大学学报》2009年第6期24-27,共4页Journal of Guangdong University of Foreign Studies

基　　金：广东外语外贸大学人文社科重点研究基地WTO与广东经贸研究中心2007年度重大项目(GWGDJM07002)的阶段性研究成果

摘　　要：以开放条件下IS-LM模型为依据,对日本外汇储备变动对其货币供给量和GDP的影响进行实证分析的结果表明,1960～2005年日本外汇储备的增加对货币供给量的影响较小,进而对GDP影响较小。其根源在于日本购入外汇储备日元资金的来源主要依赖于政府的债券融资,而非日本银行的货币投放。Base on IS-LM Model in an open economy, the paper gives an empirical analysis of how the change in Japan＇s foreign exchange reserve impacts on money supply and GDP. The result shows that the increase in Japan＇s foreign exchange reserve has little effect on money supply and thus less impact on GDP from 1960 to 2005. It is because the Japanese yen funds used to purchase foreign exchange reserve are mainly dependent upon the government bond financing rather than the Bank of Japan＇s money supply.

关 键 词：外汇储备 货币供给 GDP IS-LM模型 

分 类 号：F313.833[经济管理—产业经济]