央行数字货币是否有助于治理影子经济?——基于新货币主义经济学的分析  

Will Central Bank Digital Currency Help Govern the Shadow Economy?——A Study Basedon New Monetarist Economics

作　　者：戴金平[1] 刘双岁 DAI Jinping;LIU Shuangsui

机构地区：[1]南开大学跨国公司研究中心 [2]南开大学经济学院

出　　处：《社会科学》2023年第8期103-115,共13页Journal of Social Sciences

基　　金：国家社会科学基金重点项目“我国金融周期对短期经济周期波动的影响研究”(项目编号:18AZD011)的阶段性成果。

摘　　要：央行数字货币的发行是否有助于治理影子经济以降低影子经济规模?文章基于商品与货币交换的新货币主义经济学分析框架,构建了包含纸币和央行数字货币两种货币的动态一般均衡模型,研究央行数字货币对影子经济的影响。研究发现,交易者的货币需求受到货币政策、财政政策以及市场交易等多重因素影响,交易者的货币需求决定影子经济规模;央行数字货币的发行有助于降低影子经济规模;财政政策和货币政策都能对影子经济产生一定的影响。研究表明,考虑到央行数字货币有助于治理影子经济,政府应注重货币交易场景的设计,扩大央行数字货币使用场景。此外,政府在治理影子经济时不仅要关注财政政策,还应注重货币政策与财政政策的协调配合,健全针对影子经济的治理体系。Does the issuance of central bank digital currency help govern the shadow economy in reducing the size of the shadow economy?Based on the new monetarist economics framework of commodity and money exchange,the article constructs a dynamic general equilibrium model including both paper money and central bank digital currency to study the impact of central bank digital currency on the shadow economy.It is found that the currency demand of traders is influenced by multiple factors such as monetary policy,fiscal policy,and market transactions;traders'money demand determines the size of the shadow economy;the issuance of central bank digital currency helps reduce the size of the shadow economy;and both fiscal policy and monetary policy can have some impact on the shadow economy.The study shows that considering that the central bank digital currency helps govern the shadow economy,the government should focus on the design of monetary transaction scenarios and expand the scenarios of using the central bank digital currency.In addition,the government should not only focus on fiscal policy when governing the shadow economy,but also pay attention to the coordination and cooperation between monetary and fiscal policies with a view to improving the governance system for the shadow economy.

关 键 词：央行数字货币 纸币 影子经济 新货币主义经济学 

分 类 号：F830[经济管理—金融学]