| 调整后的基础货币变化对货币乘数的影响 |
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| 引用本文： | 曹亚廷.调整后的基础货币变化对货币乘数的影响[J].郑州航空工业管理学院学报(管理科学版),2006,24(6):66-68. |
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| 作者姓名： | 曹亚廷 |
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| 作者单位： | 上海财经大学金融学院,上海200439 |
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| 摘 要： | 当基础货币发生变化时，货币乘数并不是保持不变的，尤其是在剔除我国频繁调整的法定存款准备金率对基础货币的影响后，基础货币的增长率和两个货币乘数K1、K2增长率之间可能存在反向关系。利用协整回归和向量误差纠正模型，对基础货币与货币乘数间关系进行分析后认为：基础货币无论是长期还是短期，对货币乘数都有显著的反向影响。
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| 关 键 词： | 货币乘数 协整分析 VEC模型 |
| 文章编号： | 1007-9734(2006)06-0066-03 |
| 修稿时间： | 2006年9月20日 |
The Study of Adjusted Basic Money's Influence on Monetary Multiplier |
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| CAO Ya-ting.The Study of Adjusted Basic Money''''s Influence on Monetary Multiplier[J].Journal of Zhengzhou Institute of Aeronautical Industry Management,2006,24(6):66-68. |
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| Authors: | CAO Ya-ting |
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| Abstract: | The Monetary Multiplier by no means remains stable as Basic Money changes.Particularly,when the influence of frequent-change legal deposit reserve requirement on Basic Money is eliminated,there might be reverse relation between Basic Money growth rate and Monetary Multipliers'(K_1,K_2) growth in China.With the analysis of Co-integration Regression and Vectors Error Correction Models,the research of the Basic Money and Monetary Multiplier shows the truly existence of distinct reverse relationship both in the long term and in the short term. |
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| Keywords: | Monetary Multiplier Co-integration Analysis Vector Error Correction Models |
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