摘要
“货币长期中性”是货币在充分就业经济水平上的中性。“货币长期中性”的概念没有实际意义。“货币短期非中性”是货币在低于充分就业经济水平上的有效性。“货币长期中性”否定不了“货币短期非中性”的政策意义。我国名义经济增长与M1 ,M2 的增长率有显著的线性相关关系 ,实际经济增长率也是随货币增幅的变动而变化的。当前 ,M1 ,M0 的增长率已进入适度区间 ,但货币总量M2 的供应量还要适度增加。
The“Monetary long-term neutrality”is the neutrality when money maintains at the economic level of full-employment The concept of “monetary long-term neutrality”is of no practical significance.The“monetary short-term non-neutrality”is the effectiveness when money is under the economic level of full-employment.“Monetray long-term neutrality”can′t repudiate the policy significance of the“monetary short-term non-neutrality.”In our country,the nomical economic growth has the significant linear interrelation with the growth rate of M\-1,M\-2.In addition,the practical economic growth rate is vibrating with that of currency.At presont,the growth rate of M\-1 and M\-2 have entered into the appropriate area,but the overall money supply of M\-2 still needs the proper growth.
出处
《金融研究》
CSSCI
北大核心
2000年第9期13-21,共9页
Journal of Financial Research
关键词
货币长期中性
货币短期非中性
政策意义
中国
monetary long-term neutrality Monetary short-term non-neutrality Significance
