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The Empirical Study on the Relationship between the Monetary Policy and the Economic Development——Based on VAR model
Pages: 33-38+43
Year: Issue:  4
Journal: Xi'an Finance

Keyword:  monetary policyeconomic developmentVAR model;
Abstract: The paper firstly expounds the relationship between the monetary policy and the economic development in China, establishes the conduction path of the correlation between the monetary policy and the economic development, and makes the empirical study on data from quarter 2 of 1998 to quarter 1 of 2013 in China by adopting VAR model. The results show that in the long term, the monetary policy is neutral, but the impact of the monetary policy on the economic development cannot be ignored in the short term.And at the same time the adverse effects of the economic development on the monetary policy should be paid attention to. The central bank should prudentially choose monetary policy tools according to the economic situations, and pay attention to the prospective,transparency and disclosure of the monetary policy.
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