| 资产价格与开放经济内外均衡——一个新的分析框架 |
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| 引用本文： | 何圣财,张伟伟,王立荣.资产价格与开放经济内外均衡——一个新的分析框架[J].东北师大学报(哲学社会科学版),2011(2):15-20. |
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| 作者姓名： | 何圣财 张伟伟 王立荣 |
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| 作者单位： | 东北师范大学经济学院;长春理工大学经济管理学院; |
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| 基金项目： | 国家社科基金重点项目(08GJA001); 东北师范大学研究生创新研究基金项目(09SSXT108) |
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| 摘 要： | 资产价格波动对宏观经济产生影响已是不争的事实。本文结合中国经济特点,建立了一个简易的宏观经济分析框架,得到了商品—信贷市场均衡、货币—资产市场均衡和国际收支均衡,这种内外部双均衡下的资产价格和产出,并通过区分汇率对恢复外部均衡的速度大小不同,讨论了该均衡的稳定性以及两种情况下的财政与货币政策效果,发现对资本项目的相对管制和更加富有弹性的汇率制度有利于实现均衡的稳定,并且在两种情况下的货币政策和财政政策效果都比较显著。实证研究还发现,随着我国对资本项目的逐步放宽及对汇率的相对管制,内外部均衡显示出一定的不稳定性。
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| 关 键 词： | 资产价格 内外均衡 资本项目 CC—MA—BE模型 |
Asset Prices and Internal and External Equilibrium of Open Economy——Based on a New Analytical Framework |
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| HE Sheng-cai,ZHANG Wei-wei,WANG Li-rong .School of Economics,Northeast Normal University,Changchun ,China,.School of Economics , Management,Changchun Polytechnic University,China.Asset Prices and Internal and External Equilibrium of Open Economy——Based on a New Analytical Framework[J].Journal of Northeast Normal University(Social Science),2011(2):15-20. |
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| Authors: | HE Sheng-cai ZHANG Wei-wei WANG Li-rong School of Economics Northeast Normal University Changchun China School of Economics Management Changchun Polytechnic University China |
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| Institution: | HE Sheng-cai1,ZHANG Wei-wei1,2,WANG Li-rong1 1.School of Economics,Northeast Normal University,Changchun 130117,China,2.School of Economics and Management,Changchun Polytechnic University,130022,China) |
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| Abstract: | It's an indisputable fact that asset price fluctuation will have impact on macroecomomic.In this paper,taking the characteristics of China's economy into account,a simple framework for macroeconomic is established.Using this model,we can get the asset price and output that under internal and external dual-balanced,including goods-credit market equilibrium,money-asset market equilibrium and balance of payments.By distincting the speed of the restoration of external balance caused by the exchange rate,we rese... |
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| Keywords: | Asset price Internal and external equilibrium Capital Projects CC-MA-BE model |
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