摘要
为了研究中国货币政策与家庭风险偏好之间的关系,在DSGE框架下运用方差分解和脉冲响应等方法分析不同风险偏好条件下利率冲击和货币供给冲击等对中国经济波动的影响;研究结果表明:首先,货币政策方面的冲击解释了中国经济的大部分波动;其次,代表性家庭风险偏好越小,经济对货币供给变动的反应越灵敏。
In order toanalyse the relationship between the monetary policy of China and the risk preferenceof the agent family, we use variance de- composition and impulse response method to studytheimpact of interest rate and money supply shocks on the fluctuation of China＇s economy under the different risk preference on theDynamic Stochastic General Equilibrium （DSGE）model; The results show that： firstly, the Chinese economy fluctuation could be explainedmost by the shock of the monetary policy; Secondly , thesmaller of therisk preferenceof the agent family, the more sensitive of the changeof the money supply.
出处
《科技和产业》
2014年第1期171-176,共6页
Science Technology and Industry
基金
华侨大学哲学社科青年学者成长工程(12SKGC-QT01)
福建省教育厅人文社科项目(JA12028S)
关键词
风险偏好
货币供给
贝叶斯估计
risk preference
monetary supply
Bayesian estimation
