动态随机一般均衡模型中的货币政策

2009 International Asia Conference on Informatics in Control, Automation and Robotics Pub Date : 2009-02-01 DOI:10.1109/CAR.2009.103

Yang Liu, Li Li

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引用次数: 0

摘要

摘要:本文利用1996-2005年中国季度数据，运用动态随机一般均衡模型框架，比较了利率反馈规则和货币增长规则这两种不同的货币政策设计。根据我们的计量经济学分析，我们认为，封闭利率反馈规则的模型更接近数据。本文还建议将粘性价格和财政政策结合起来，以更好地解释经济。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Money Policy in Dynamic Stochastic General Equilibrium Models

Abstract: By using the quarterly data of 1996-2005 in China, we use a dynamic stochastic general equilibrium modeling framework to compare the different design of monetary policy: an interest rate feedback rule and a money growth rule. Drawing on our econometric analysis, we argue that model, closed with interest rate feedback rule comes closer to the data. The paper also suggests to incorporate the sticky price property and fiscal policy to explain the economy better.

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2009 International Asia Conference on Informatics in Control, Automation and Robotics

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