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wo guo huo bi zheng ce yu tong huo peng zhang de fei xian xing ji zhi shi bie
Pages: 75-81
Year: Issue:  3
Journal: Journal of Shanghai University of Finance and Economics

Keyword:  nominal interest rateinflationthreshold effect;
Abstract: 本文在对名义利率与通货膨胀的协整检验的基础上,构建门限向量误差修正模型(TVECM),识别名义利率与通货膨胀之间的非线性及非对称调整机制。结果发现,名义利率与通货膨胀的误差修正模型存在门限效应;并且我国名义利率存在非对称调整偏好;在名义利率与通货膨胀的二元系统中,通货膨胀表现出一定程度的"弱外生性"。进而表明现阶段利率政策对于抑制目前的高通胀存在一定的难度,还应该辅以其他的货币政策,必要时可采取行政手段进行价格干预。
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