| 我国外汇储备对货币供给时滞的影响 |
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| 引用本文： | 岳意定,周双红,张璇.我国外汇储备对货币供给时滞的影响[J].湖南师范大学社会科学学报,2007,36(3):89-92. |
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| 作者姓名： | 岳意定 周双红 张璇 |
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| 作者单位： | 中南大学,商学院,长沙,410083 |
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| 摘 要： | 在开放经济条件下,作为本外币政策的连接点,外汇储备及其变动改变了货币政策的传导过程,影响从基础货币投放到实现货币扩张的速度,即货币供给时滞.我们运用基于自向量回归(VAR)模型的脉冲响应函数和方差分解分析对我国外汇储备对货币供给时滞的影响进行实证研究,证明了外汇储备的增加会缩短货币供给的时滞,并且其对广义货币供给时滞的影响比对狭义货币更明显.
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| 关 键 词： | 外汇储备 货币供给 时滞 脉冲响应 方差分解 外汇储备 货币供给 时滞 影响比 Supply Money Time Lag Foreign Exchange Reserve Impact Research 狭义货币 实证研究 方差分解分析 脉冲响应函数 模型 向量回归 运用 速度 货币扩张 基础货币投放 |
| 文章编号： | 1000-2529（2007）03-0089-04 |
| 修稿时间： | 2007-01-15 |
Empirical Research on the Impact of Foreign Exchange Reserve on the Time Lag of Money Supply in China |
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| YUE Yi-ding,ZHOU Shuang-hong,ZHANG Xuan.Empirical Research on the Impact of Foreign Exchange Reserve on the Time Lag of Money Supply in China[J].Journal of Social Science of Hunan Normal University,2007,36(3):89-92. |
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| Authors: | YUE Yi-ding ZHOU Shuang-hong ZHANG Xuan |
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| Institution: | Business School of Central South University, Changsha 410083 |
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| Abstract: | In the open economy, as the link point between the policy of local and foreign currency, foreign exchange reserve and its variation change the transmission process of monetary policy, and then influence the speed in which the money base is expanded to money supply, say time lag of money supply. Using the impulse responses function and variance decomposition analysis based on VAR model, this paper has made out empirical research on the impact that foreign exchange reserve has on time lag of money supply, and proves that the increase of foreign exchange reserve will shorten the time lag of money supply and this effect on money of broad sense is more obvious than that of narrow sense. |
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| Keywords: | foreign exchange reserve money supply time Lag impulse responses variance decomposition |
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