中国货币条件指数的构建与分析  

The Construction and Analysis of China's Monetary Condition Index

作　　者：徐丹[1] XU Dan((Xi’an Branch PBC, Xi’an Shaanxi 710075)

机构地区：[1]中国人民银行西安分行,陕西西安710075

出　　处：《西部金融》2017年第12期44-46,86,共4页West China Finance

摘　　要：货币条件指数(Monetary Condition Index,简称MCI)作为反映一个国家货币政策松紧程度的指标,自1994年由加拿大银行首次提出后,引起了国际社会的普遍关注。越来越多的国家央行已经把MCI作为一种货币政策指示器标量,乃至作为货币政策的操作目标。本文通过M2、实际利率、实际有效汇率构建我国MCI,并用其来分析我国货币条件的松紧程度。Monetary Condition Index(MCI)which reflects the tightness degree of a country’s monetary policy,has attracted the widespread concern of the international community since it was first proposed by Bank of Canada in1994.A growing number of central banks have used MCI as a monetary policy indicator scaler,or even as a target for monetary policy.The paper uses M2,the real interest rate and real effective exchange rate to construct China’s MCI,and by calculating MCI analyzes the tightness of monetary conditions in China.

关 键 词：货币条件指数 实际有效汇率 实际利率 

分 类 号：F832.2[经济管理—金融学]