中国货币政策传导机制研究  

Study of the Transmission Mechanism of Monetary Policy in China

作　　者：梁骞[1] 汪波[1] 朱博文[1] 

机构地区：[1]天津大学管理与经济学部,天津300072

出　　处：《天津大学学报（社会科学版）》2015年第5期406-411,共6页Journal of Tianjin University：Social Sciences

摘　　要：运用SVAR模型对1998—2012年间中国货币政策传导机制中的货币渠道和信用渠道对经济增长和通货膨胀的作用进行了研究。通过运用方差分解得出了各变量对经济增长和通货膨胀的影响。研究结果表明,信用渠道在我国货币政策传导渠道中发挥了重要作用,然而其对通货膨胀的影响作用高于其对经济增长的作用,而货币渠道则在经济增长方面发挥了更大作用。With the SVAR model, this paper analyzes the influence of monetary channel and credit channel in the transmis- sion mechanism of monetary policy on the economic growth and inflation. In addition, this paper also investigates the influ- ence of every variable on the economic growth and inflation by variance decomposition. The result indicates that the credit channel plays an important role in the transmission channel of monetary policy and that its influence on inflation is greater than that on the economic growth, while monetary channel plays more important role in the economic growth.

关 键 词：货币政策传导机制 货币渠道 信用渠道 

分 类 号：F822[经济管理—财政学]