摘要
货币政策和财政政策是否影响家庭金融资产选择?文章选取2003年第三季度—2017年第四季度、时间跨度涵盖58个完整季度的居民储户调查数据和货币、财政政策变量数据进行实证分析。结果表明,货币政策和财政政策会影响微观家庭的金融资产选择,尤其是对于家庭储蓄存款配置意愿和股票基金投资意愿具有影响。政策对于家庭金融资产选择意愿的短期冲击和长期影响均存在,政策制定者应对居民金融资产选择意愿进行充分关注,及时进行资本市场风险管控。
Does monetary and fiscal policy affect household finarcial asset choice?The empirical analysis is undertaken on the data from 2003 Quarter 3 to 2017 Quarter 4,whencompleted survey data for resident savers in 58 quarters,the monetary policy intermediary variables and the family financial assets choice are included.The results show that monetary policy and fiscal policy will affect the family financial assets choice,especially for family cash allocation intentions and stock investment willingness.The policy has a short and long-term impact on the family financial assets choice,and the policy makers should pay full attention to the willingness of the residents’financial assets choice and carry out the risk management of the capital market in a timely manner.
作者
林博
吴卫星
Bo Lin;Weixing Wu(School of Finance,University of International Business and Economics,Beijing 100029,China)
出处
《会计与经济研究》
CSSCI
北大核心
2019年第4期92-109,共18页
Accounting and Economics Research
基金
国家社科基金重大项目(16ZDA033)
关键词
货币政策
财政政策
金融资产选择
投资意愿
monetary policy
fiscal policy
financial assets choice
investment willingness
