CAJ | 학술논문

为了研究中国货币政策与家庭风险偏好之间的关系，在DSGE框架下运用方差分解和脉冲响应等方法分析不同风险偏好条件下利率冲击和货币供给冲击等对中国经济波动的影响；研究结果表明：首先，货币政策方面的冲击解释了中国经济的大部分波动；其次，代表性家庭风险偏好越小，经济对货币供给变动的反应越灵敏。
위료연구중국화폐정책여가정풍험편호지간적관계，재DSGE광가하운용방차분해화맥충향응등방법분석불동풍험편호조건하리솔충격화화폐공급충격등대중국경제파동적영향；연구결과표명：수선，화폐정책방면적충격해석료중국경제적대부분파동；기차，대표성가정풍험편호월소，경제대화폐공급변동적반응월령민。
In order toanalyse the relationship between the monetary policy of China and the risk preferenceof the agent family, we use variance de- composition and impulse response method to studytheimpact of interest rate and money supply shocks on the fluctuation of China＇s economy under the different risk preference on theDynamic Stochastic General Equilibrium （DSGE）model; The results show that： firstly, the Chinese economy fluctuation could be explainedmost by the shock of the monetary policy; Secondly , thesmaller of therisk preferenceof the agent family, the more sensitive of the changeof the money supply.