摘要
在检验出货币供应量M2为I(2),实际产出为I(1)之后,再用一个只包含M2的增长率、实际产出两变量的二元结构向量自回归模型来研究1962～2002年期间货币供应量增长率的一次永久性变化对实际产出的长期影响,结果表明,在中国存在Tobin效应,即货币供应量M2增长率的一次永久性增加使实际产出增加,货币长期超中性不成立。
Having tested that M2 is I(2) and real output is I(2), a structural vector autoregression framework is used to analyze the effect of a permanent change in China's money growth rate on the long-term real output level from 1962 to 2002. The result shows that there exists Tobin effect in China, which indicates that a permanent increase in money growth rate increases the long-term real output in China and the long-term real super neutrality is rejected.
出处
《山西财经大学学报》
北大核心
2004年第2期33-37,共5页
Journal of Shanxi University of Finance and Economics
