| 汇率与股票资产价格泡沫关系的实证分析及货币政策研究 |
| |
| 引用本文： | 逯宇铎,王昱. 汇率与股票资产价格泡沫关系的实证分析及货币政策研究[J]. 大连理工大学学报(社会科学版), 2011, 32(1): 25-30 |
| |
| 作者姓名： | 逯宇铎 王昱 |
| |
| 作者单位： | 大连理工大学经济系; |
| |
| 基金项目： | 国家社会科学基金项目(10CJL039) |
| |
| 摘 要： | 文章首先分析了人民币汇率和我国股票资产价格(以上证A股为例)的现状,然后就人民币汇率升值和上证A股股价变化关系进行了实证研究,其中包含了金融危机的影响。实证结果表明,从长期来看本币升值将导致股票资产价格泡沫下降;接着通过建立应对汇率升值导致的股票资产价格泡沫的货币政策模型得出,当出现资产价格泡沫时,多数情况下应实行紧缩货币政策,以免资产价格泡沫在短期趋于过大,减轻资产价格泡沫经长期后破灭产生通货紧缩等更大的不利影响。
|
| 关 键 词： | 汇率升值 股票资产价格 泡沫 货币政策 |
Empirical Analysis of the Relationship between Exchange Rate and Stock Asset Price Bubbles and Money Policy Research |
| |
| LU Yu-duo,WANG Yu. Empirical Analysis of the Relationship between Exchange Rate and Stock Asset Price Bubbles and Money Policy Research[J]. Journal of Dalian University of Technology(Social Sciences), 2011, 32(1): 25-30 |
| |
| Authors: | LU Yu-duo WANG Yu |
| |
| Affiliation: | LU Yu-duo,WANG Yu School of Economics,Dalian University of Technology,Dalian 116024,China |
| |
| Abstract: | The paper first analyzes the current situation of exchange rate and stock asset price in China(taking SSE A Share for example),and then conducts an empirical study of the relationship between RMB exchange rate appreciation and changes in SSE A Share price including the influence of the financial crisis.The result shows that exchange rate appreciation will cause the fall in stock asset price in the long-term.By developing a money policy model which serves to respond to the stock asset price bubbles caused by... |
| |
| Keywords: | exchange rate appreciation stock asset price bubbles money policy |
| 本文献已被 CNKI 维普 万方数据 等数据库收录！ |
