摘要
发达国家经验表明,货币市场对货币政策操作的反应对货币政策的有效性具有重要意义。本文对中国货币市场对货币政策操作的反应进行了的实证分析,分析结果显示,中国,货币市场利率对货币政策操作具有一定的反应,但是,对不同货币政策工具操作的反应不完全相同。
The experience of developed economies shows that effective reactions of interests rates of money markets to monetary policy is very important for effectiveness of monetary policy. The paper empirically studies the ease in China and finds that different monetary policy tools have different reactions for a certain monetary policy. Finally, further correspondent policy suggestions are provided.
出处
《金融研究》
CSSCI
北大核心
2007年第09A期20-30,共11页
Journal of Financial Research
关键词
货币市场
货币政策
利率结构
money market, monetary policy, interests rate structure
