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货币政策反应规则与股票价格的实证研究

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摘要 本文通过构建封闭经济环境下的IS-Phillips模型,推导出最优的利率反应规则,并进行结果的模拟分析和损失函数的计算,结果表明,货币政策实施如果考虑股价因素会导致实际产出波动更大、通胀更不可控,降低货币政策的实施效果,我国目前的货币政策不应对股价作出反应。
出处 《金融经济(下半月)》 2017年第2期118-120,共3页
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