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我国M_2顺周期性的原因分析——货币供给内生性的视角 被引量:24

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摘要 目前,我国的M2呈顺周期特征,货币政策没能逆经济风向而动。本文通过实证检验发现,这个现象的出现不是因为央行对目前以货币总量为中介目标的货币政策策略执行不力,而是央行根本无法控制货币量的供给,原因是货币量在现代银行体系内是内生变量,取决于银行的贷款标准和企业的贷款意愿等。因此,需要放弃数量型货币政策,转向以利率为中介目标。
作者 于泽
出处 《管理世界》 CSSCI 北大核心 2008年第12期24-31,共8页 Journal of Management World
基金 中国人民大学项目"菲利普斯曲线与我国货币政策区域效应"的支持
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