中国利率政策的微观基础分析

2009 16th International Conference on Industrial Engineering and Engineering Management Pub Date : 2009-12-04 DOI:10.1109/ICIEEM.2009.5344249

Y. Shang

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引用次数: 0

摘要

近年来，央行运用利率政策的力度越来越大，频率也越来越高。政策工具能否在所有经济程序中发挥预期的传导功能，是市场普遍关注的问题。传输通道的这一问题也是人们一直争论的焦点。本文以1996 - 2008年季度数据为基础，分析了利率政策的微观基础，即储蓄和投资对利率的反映，并探讨了利率政策在不同经济周期中的有效性。

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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Micro foundation analysis of interest rate policy in China

In recent years, central bank utilizes interest rate policy more strongly and more frequently. It is general concern in market whether the policy tool can perform actual transmission function across all economic procedures as expected. This issue in transmission channel is also the focus people always argue about. This article analyzes the Micro foundation of interest rate policy, which is savings and investment reflection to the interest rates based on quarterly data from 1996 to 2008, and then concerns the validity of the interest rates policy in different economic cycles.

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2009 16th International Conference on Industrial Engineering and Engineering Management

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