• 论文 •

### 原油价格、流动性与我国的通货膨胀

• 出版日期:2011-08-15 发布日期:2011-08-08

### Crude Oil Price, Liquidity and China’s Inflation

Zhao Yi & Li Yi

• Online:2011-08-15 Published:2011-08-08

Abstract: The fluctuation of international crude oil price has some impacts on the inflation in China, and meanwhile the liquidity glut is a very important problem that cannot be neglected. This paper analyzes the influencing factors of China’s inflation by a CVAR model with variables, M2, output, international crude oil price and inflation rate. The results show that there exists a stable Monetary Demands Function and a Philips Curve in China. Crude oil price’s change has long term influence on China’s inflation, but the more important influence factors of inflation in China are liquidity glut and economic overheating.

Key words: Crude Oil Price, Liquidity, Inflation, CVAR