摘要
本文梳理了外部冲击及其对通货膨胀影响的相关文献。本文指出,外部冲击和通货膨胀动态特征的研究密切相关,这是因为,在日益开放的宏观经济环境下,外部冲击的影响已经构成我国通货膨胀特征的重要因素。同时,我国通货膨胀的动态特征也成为检验外部冲击理论是否符合实际的重要标准。目前国内的相关文献并没有将外部冲击和通胀动态特征有机结合,并且在建立理论或实证模型来分析外部冲击对我国国内通货膨胀影响时,没有充分揭示不完全汇率传递效应在外部冲击的通胀影响方面的作用机制。在此影响下,该领域的研究,尤其是理论研究中对外部冲击的通胀效果的结论与现实情况有较大差距,并不能充分解释外部冲击对通货膨胀的缓慢且滞后的影响。本文提出,为了刻画符合我国通货膨胀动态特征的外部冲击影响,该领域的分析不能忽视不完全汇率传递效应及其在外部冲击影响过程中的作用机制。
This paper gives a literature review on the impacts of international shock on domestic inflation dynamics.The literature of international shocks are closely related to that of inflation dynamics,not only due to the importance of international shock in shaping inflation pressure,but also because that inflation dynamics is a inner standard for the judgment of the theory of international shocks.According to this standard,most of the literature of this kind in China still overlooks the incomplete exchange rate pass-through effect in the propagation of international shock’s domestic influence,which causes big differences between the conclusion of theoretical models and the real world.Therefore,in order to render a reasonable theory between international shock and its influences on domestic inflation dynamics,we should incorporate the incomplete exchange rate pass-through effect in our story.
出处
《金融评论》
2013年第2期101-110,126,共10页
Chinese Review of Financial Studies
关键词
外部冲击
通货膨胀动态
汇率传递效应
International Shock
Inflation Dynamics
Exchange Rate Pass-through
