轉(zhuǎn)軌時(shí)期中國(guó)貨幣政策傳導(dǎo)途徑的實(shí)證研究.pdf

1、重慶大學(xué)碩士學(xué)位論文轉(zhuǎn)軌時(shí)期中國(guó)貨幣政策傳導(dǎo)途徑的實(shí)證研究姓名：莫高琪申請(qǐng)學(xué)位級(jí)別：碩士專(zhuān)業(yè)：產(chǎn)業(yè)經(jīng)濟(jì)學(xué)指導(dǎo)教師：冉茂盛20040325重慶大學(xué)碩士學(xué)位論文英文摘要ABSTRACTBasedonthetheoriesanalysis，thispaperempiricallystudiesthemonetarypolicytransmissionchannelduringthe1994to2002sampleperiodinwhichth

2、emonetarypolicywastransformedfrombeingdirectly—controlledtobeingindirectly—controlledbythecentralbankinChinafinallytheconclusionandpolicyimplicationsaremadeThispaperconsistsofsixpartsThefistpartpresentsthestudyaimsandmea

3、ning，themainworkingandstructureofthepaperThesecondpartsummarizesthegeneralanalysisframeofmechanismofmonetarypolicytransmission，andreviewsthetheories，amongwhicharemainlythemoneychanneltheoryandcreditchanneltheoryThethirdp

4、artreviewsbrieflythehistoricalandcurrentthestatusofmonetarypolicytransmissioninChinaAimedtoevaluatethemonetarypolicytransmissionofChinaintransformedperiodobjectivelythefourthpartempiricallystudiesthequarterlyeconomicandf

5、inancialdatabetween1994and2002ItfollowstheGrangerTestbasedOntheVectorAuto—regressionModeltoestimateifthemonetarysupplyandcreditwillGrangercausegeneraloutputrespectivelyItinvestigatesthedifferenteffectsofthemonetarychanne

6、landcreditchannelonthemacro—economicusingtheLeastSquareItalsoappliestheImpulseResponseFunctiontoestimatetheimpactofmonetarypolicyontherepresentativeindexoftheleadingchannelinChina’SmonetarypolicytransmissionTheresultssho

7、wthatthemoneychannelandthecreditchannelareboththeimportantchannelsofChinesemonetarytransmission，whiletheimpactoflatteronmacro—economyisstrongerSOthecreditchannelplaysadominantroleinthemonetarytransmissioninChinaInthemone

8、tarypolicyimpulseresponseanalysis，itfindstheimpactofmonetarypolicyCanaffectthepriceandoutputintheshortterm，butitcarlhardlyaffectthepriceinlongtermTheimpactofmonetarypolicyonoutputexists，butitisalsolimitedItindicatestheim

9、pactofmonetarypolicyonthemid—andlong—termloanisstrongerthanthatontheshort—termloanThefifthparttriestofindthefactorsthataffectthemonetarypolicytransmissioninChinaTheconclusionandthepolicyimplicationsaremadeinthe1astpartKe