| 我国货币政策效果的一般均衡分析 |
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| 引用本文： | 方显仓.我国货币政策效果的一般均衡分析[J].华东师范大学学报(哲学社会科学版),2006,38(4):86-91. |
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| 作者姓名： | 方显仓 |
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| 作者单位： | 华东师范大学商学院,上海200062 |
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| 摘 要： | 在对银行信贷、企业投资借贷和居民消费等行为进行建模的基础上,就我国货币政策的效果进行一般均衡分析后发现,银行垄断的市场结构不利于信贷供给增加;预期通货膨胀(紧缩)也不利于信贷供给和信贷需求的收缩(扩张);由于降息的收入效应大于替代效应,跨期消费选择引起内需不足,消费下降.因此,要强化货币政策传导效果,必须完善金融体系,消除通货膨胀或紧缩环境.
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| 关 键 词： | 货币政策 一般均衡 信贷 跨期消费 利息政策 |
| 文章编号： | 1000-5579（2006）04-0086-06 |
| 收稿时间： | 2005-10-25 |
| 修稿时间： | 2005-10-25 |
A General Equilibrium Analysis of Effects of China's Monetary Policy |
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| FANG Xian-cang.A General Equilibrium Analysis of Effects of China's Monetary Policy[J].Journal of East China Normal University :Philosophy and Social Sciences Edition,2006,38(4):86-91. |
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| Authors: | FANG Xian-cang |
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| Institution: | School of Business, East China Normal University, Shanghai 200062, China |
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| Abstract: | In order to study our country's monetary policy,we try to set up a general equilibrium model for a bank's credit behaviors,an enterprise's investment behaviors and residents' consumption behaviors.We demonstrate in theory that,on condition of general equilibrium,a market structure of bank monopoly is disadvantageous to the increase of credit supply;the domestic consumption demand is away from sufficiency because the income effect of reducing interest rates is greater than the substitution effect;an expected inflationary or deflationary situation is not helpful to reduce or increase credit supply and credit demand.So the effect of our monetary policy has been and will be inefficient. |
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| Keywords: | monetary policy general equilibrium analysis credit intertemporal consumption interest rate policy |
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