摘要
次贷危机以来,各国货币政策的有效性有所下降,除了信贷市场的制度变革以及经济活动参与者预期的改变等因素之外,人口结构的变化也是重要原因。研究表明,老龄化与货币政策有效性弱化之间的关系是长期的,并且不受经济周期等短期因素的影响。
In the wake of the subprime mortgage crisis, many countries have seen reduced effectiveness of their monetary policy. Shifts in lending policies and changes in expectations of market participants have been key factors but there is also a link to changes in demographic structure. According to this study, there is a long-term correlation between an aging population and reduced effectiveness of monetary policy. Moreover, the relationship is unaffected by short-term factors such as the economic cycle.
出处
《金融市场研究》
2014年第6期60-66,共7页
Financial Market Research
关键词
发达经济体
老龄化
货币政策有效性
developed economies,aging population,effectiveness of monetary policy
