转型期政策分析视角下利率政策效果研究  

A Study on Policy Effectiveness of Interest Rate from Visual Angle of Policy Analysis During the Transition Period

作　　者：于波 范从来[2] 

机构地区：[1]南京信息工程大学经济管理学院 [2]南京大学商学院

出　　处：《南京社会科学》2013年第10期13-20,共8页Nanjing Journal of Social Sciences

摘　　要：作为重要的货币政策工具,利率政策必然对物价、产出等波动作出相应的调整。基于封闭经济条件,本文引入近年来发展的货币政策分析模型,并根据转型期中国经济运行实际加以改造,研究分析了我国利率政策效果。结果表明,利率政策更加关注物价水平波动,对当期通胀偏离、当期产出的冲击强度最大。同时,当期通胀偏离对利率政策变动的贡献度高于当期产出。As an important monetary policy operational instrument, interest policy adjusts to the fluctuation of price and output. Based on the closed economy, the paper leads into monetary analysis model which is developed in recent years, renovates the model according to Chinese economic facts during the transition period, and analyzes the policy effectiveness of interest rate in China. It is indi- cated that interest policy pays more attention to the price level fluctuation and impacts most positively current period inflation deviation and output. Besides, current period inflation deviation＇ contribu- tion to interest rate policy change is greater than output＇ s.

关 键 词：操作工具 货币政策分析模型 利率政策效果 

分 类 号：F821.0[经济管理—财政学]