上海金融
上海金融
상해금융
Shanghai Finance
2008年
4期
18~20
,共null页
贸易顺差 资产价格 经济失衡
貿易順差 資產價格 經濟失衡
무역순차 자산개격 경제실형
Trade Surplus, Asset Price; Economic Disequilibrium
本文对一些学者提出的内外经济失衡的关系进行了考证。结果表明外部经济的失衡虽增强了货币供给的内生性,但并不必定导致内部资产价格的高涨。因此在政策选择上,要避免面对外部经济失衡采取一些应对内部经济失衡的政策工具来调节内部经济增长过快问题。同时,出于在经济发展过程中资产价格时间序列发生结构性变化的考虑,政策制定极有必要考虑资产价格因素。
本文對一些學者提齣的內外經濟失衡的關繫進行瞭攷證。結果錶明外部經濟的失衡雖增彊瞭貨幣供給的內生性,但併不必定導緻內部資產價格的高漲。因此在政策選擇上,要避免麵對外部經濟失衡採取一些應對內部經濟失衡的政策工具來調節內部經濟增長過快問題。同時,齣于在經濟髮展過程中資產價格時間序列髮生結構性變化的攷慮,政策製定極有必要攷慮資產價格因素。
본문대일사학자제출적내외경제실형적관계진행료고증。결과표명외부경제적실형수증강료화폐공급적내생성,단병불필정도치내부자산개격적고창。인차재정책선택상,요피면면대외부경제실형채취일사응대내부경제실형적정책공구래조절내부경제증장과쾌문제。동시,출우재경제발전과정중자산개격시간서렬발생결구성변화적고필,정책제정겁유필요고필자산개격인소。
This paper conducts a research on the relationship between internal and external economic disequilibrium. The result shows that external economic disequilibrium strengthens the endogenous character of money supply, but doesn't necessarily lead to internal asset price boom. So policymakers should avoid adopting countermeasures to internal economic disequilibrium to regulate external disequilibrium. At the same time, it is still possible that time series of asset prices take structural changes in the course of economic development, and asset prices is vital to policymaking.