摘要
随着中国股票市场的不断完善,股票市场在货币政策传导机制中所起的作用日益突出。为全面分析中国股票市场对货币政策传导机制的影响,文章主要运用规范分析和实证分析的方法,从货币政策向股票价格的传导和股票价格向实体经济的传导及最终的货币政策目标三个层面,对中国货币政策在股票市场的传导机制进行研究,得出中国货币政策在股票市场的传导并不是顺畅的结论,并在文章结尾提出若干对策建议。
With the constant improvement of China’s stock market,stock market in the transmission mechanism of monetary policy has played an increasingly prominent role.For the comprehensive analysis of the stock market on the impact of monetary policy transmission mechanism,this paper analysis and empirical analysis of the use of standardized methods,from the monetary policy transmission to equity prices and stock prices to the real economy,monetary policy transmission and the final goal of the three levels on China’s monetary policy transmission mechanism in the stock market study,obtained monetary policy transmission in the stock market,the conclusion is not smooth,and the end of the article made a number of suggestions.
出处
《中南财经政法大学研究生学报》
2011年第1期116-121,共6页
Journal of the Postgraduate of Zhongnan University of Economics and Law
关键词
股价
货币政策传导机制
向量误差修正模型
脉冲响应
Stock Price
Transmission Mechanism of Monetary Policy
Vector Error Correction Model
Impulse Response
