By employing the state-space model in the framework of Neo-Keynesian theory,this paper conducts an empirical test on the applicability of Taylor Rule in China’s monetary policy with the time-varying implicit inflation target.
利用新凯恩斯理论框架下的状态空间模型,基于时变隐性通货膨胀目标对Taylor规则在我国货币政策中的适用性进行实证检验后发现,在时变隐性通货膨胀目标的条件下,Taylor规则在样本时期内是我国的一种稳定的货币政策规则,名义利率的变动基本上能够与Taylor规则的利率调整要求相符合;同时,实际通货膨胀率围绕隐性通货膨胀率波动,通货膨胀率缺口具有"阶段性"的特点。
This paper analyses the causes of China s current inflation,points out that the current inflation is the type of cost-driven,suggests that the government must take some measures to prevent the structural inflation from evolving into overall inflation,and gives some ways of dealing with the current inflation from the monetary policy and fiscal policy.
文中对中国目前通货膨胀的形成原因进行了分析,认为本轮通货膨胀的类型是成本推动型,提出了要谨防由结构性通货膨胀演变为全面通货膨胀,并从货币政策和财税政策两个方面分析如何应对本轮通货膨胀。
An Empirical Test of Taylor Rule in China’s Monetary Policy: New Evidences from Time-varying Implicit Inflation Target
Taylor规则在我国货币政策中的实证检验——基于时变隐性通货膨胀目标的新证据
inflationary creation of currency
通货膨胀性的创造通货
Several Theoretical Issues Concerning Potential Danger of Inflation;
关于通货膨胀隐性危害的若干理论问题
open hyperinflation
开放性恶性通货膨胀
inflation uncertainty
通货膨胀的不确定性
Structural Inflation and Monetary Policy Research
结构性通货膨胀与货币政策调控研究
galloping inflation
奔腾的通货膨胀,急剧的通货膨胀
Nonlinear Relationship of Inflation and Inflation Uncertainty in China;
中国通货膨胀与通货膨胀不确定性的非线性关系
inertial inflation: Inflation caused by spiraling wage and price increases.
惯性通货膨胀:指工资和物价螺旋上涨所造成的通货膨胀。
Empirical Research of Chinese Inflation Rate and the Uncertainty of Inflationary Expectations;
中国通货膨胀水平与通货膨胀预期不确定性的实证研究
On the Inflation Expectations in China
我国居民通货膨胀预期的性质及对通货膨胀的影响
The Protracted and Complicated Governance of Inflation;
当前通货膨胀治理的长期性和复杂性
guide-line for noninflationary wages increase
非通货膨胀性工资增长指导线
The Empirical Research on the Inflation Persistence of China;
关于中国通货膨胀持续性的实证研究
The Inflation Targeting Feasibility Study in Our Country;
通货膨胀目标制在我国的可行性研究
The Persistence of Inflation in 36 Cities of China;
中国36个城市通货膨胀持久性研究
Correlation between Inflation and Real Estate Market;
通货膨胀与房地产市场的相关性分析
Inflation Expectation and Granger Causality;
通货膨胀预期与Granger因果性研究