摘要
现有的有关股票市场发展对货币需求影响的研究,暗含着一个假设:货币流通速度不变。在一个投机性极强的股市里,这一假设难以成立。对Friedman的替代效应修正后,股市发展对货币需求影响与我国实际情况相吻合。股市发展对M1有正向作用,对M2有负向作用,后者的主要成因是我国股市具有极强投机性。
There is an implicit assumption which exists in the study about the stock market on money demand, that is, the money velocity is stable, which is not true. After revising the Friedman＇s substation effect, we can find out the effect of the stock market on money demand is suitable to the real situation. The effect of the stock market on M1 is positive, but is negative on M2, which is caused by the speculative of stock market.
出处
《湖北经济学院学报》
2010年第3期45-51,共7页
Journal of Hubei University of Economics
关键词
货币需求
储蓄存款
股市投机性
货币流通速度
money demand
household deposits
speculative of stock market
money velocity
