摘要
2020年以来,新冠疫情使我国实体经济受到巨大冲击,我国政府及时采取相应政策助力经济稳增长。股票市场作为我国国民经济发展的重要参照,一直对我国货币政策有着直观地反映。本文对我国货币政策、股票市场,实体经济的关系研究,选取2018年1月—2022年2月的月度数据为观测样本,并基于VAR模型重点分析货币政策对股票市场以及股票市场对我国实体经济的影响,研究我国目前货币政策的传导机制,对于稳定经济社会健康发展有着重要意义。
Since 2020,the impact of the COVID-19 has put China’s real economy in a predicament,which requires the Chinese government to take corresponding policies in time to support steady economic growth.The stock market,as an important sector reference of China’s national economy development,has always had a direct refl ection on China’s monetary policy.This article conducts a study on the relationship between monetary policy,stock market,and real economy in China,selecting monthly data from January 2018 to February 2022 as observation sample.The impact of monetary policy on the stock market and the real economy in China is analyzed based on the VAR model.This study facilitates the understanding of the current transmission mechanism of monetary policy in China,which is of great signifi cance for stabilizing the healthy development of the economy and society.
作者
戴薛亮
DAI Xueliang(Soochow University,Suzhou,Jiangsu 215031)
出处
《中国商论》
2023年第9期110-113,共4页
China Journal of Commerce
关键词
货币政策
股票市场
实体经济
VAR模型
实证分析
monetary policy
stock market
substantial economy
VAR model
empirical analysis
