统计研究 ›› 1999, Vol. 16 ›› Issue (6): 41-43.

• 论文 • 上一篇    下一篇

中国货币政策中介目标选择问题的实证研究

史永东   

  • 收稿日期:1900-01-01 修回日期:1900-01-01 出版日期:1999-06-15 发布日期:1999-06-15

An Empirical Study on the Problem of Medium Objective of Monetary Policy in China

Shi Yongdong   

  • Received:1900-01-01 Revised:1900-01-01 Online:1999-06-15 Published:1999-06-15

关键词: 货币政策, 协整检验

Abstract: This paper, based upon cointegration theory, empirically analyzed the medium objective of China’s monetary policy. Results show that there is a very close relation between the money supply process and economic variables, it is different from that of U.S.A, moreover, cointegration is found among M1, Y(output) and P(price). Police implication is that M1 may be the medium objective of China’s monetary policy in practice.