摘要
根据西方利率决定理论,利用协整模型和误差修正模型对利率、投资、储蓄、货币供给量的内在关系进行了定量分析,发现利率、投资、货币供给量以及储蓄之间确实存在长期共同趋势,并且具有短期共同波动模式。这对我国利率市场化和充分利用利率杠杆调节宏观经济具有重要的指导意义。
Based on the western determined interest theory, the natural relationship between Interest Rate, Investments, Savings and Currency Component of M1 is detected by using the co-integration test and EMC (Error Correction Model). The long-run common trend and a short-run cyclical pattern are found from the analysis. It may play an important role in marketing of interest rate and adjusting macro-economy by using interest lever.
出处
《武汉理工大学学报（信息与管理工程版）》
CAS
2004年第5期166-169,共4页
Journal of Wuhan University of Technology：Information & Management Engineering
关键词
利率
协整检验
误差修正模型
interest rate
co-integration test
error corre
