摘要
本文对不同层次的流动性概念进行了阐述,并在此基础上着重探讨了宏观流动性的有关问题,同时通过理论分析及实证检验得出以下结论:宏观流动性的波动总体上取决于货币政策的取向和力度;但也可能在外部冲击下短期内发生剧烈波动。宏观流动性状况对资产价格具有一定作用,但实际影响取决于多种因素。
Based on expatiation on the concept ＂liquidity＂ , this paper concentrates on discussing the issues related to macro-liquidity.The author argues by experience that macro-liquidity primarily fluctuates according to monetary policy ,but it may have sharp fluctuation beyond policy if under external impact.After theoretical analysis and experimental test, the paper concludes that macro-liquidity may have positive influence on assets price,but the real correlation is uncertain because of many factors.
出处
《区域金融研究》
2010年第2期4-10,共7页
Journal of Regional Financial Research
关键词
宏观流动性
测度
波动
资产价格
Macro-liquidity
Measurement
Fluctuation
Assets Price
