CAJ | 학술논문

文章首先是对货币需求理论进行了回顾，然后利用数据对弗里德曼提出的回归方程最小二乘法进行估计以及相关的检验分析，得出中国货币需求函数为M/P=10.09872 y0.020096 i-0.070723，发现其形式是稳定的且收入弹性和利率弹性均非常小，说明在我国货币政策的实施效果不佳。进而提出了相关的建议：加快解决金融市场以及金融机构中存在的一系列问题；提高金融机构对市场指标的敏感度以及金融市场的政策敏感度从而提高货币政策的效果；构建完整的配套的法律体系以完善整个市场体制等。
문장수선시대화폐수구이론진행료회고，연후이용수거대불리덕만제출적회귀방정최소이승법진행고계이급상관적검험분석，득출중국화폐수구함수위M/P=10.09872 y0.020096 i-0.070723，발현기형식시은정적차수입탄성화리솔탄성균비상소，설명재아국화폐정책적실시효과불가。진이제출료상관적건의：가쾌해결금융시장이급금융궤구중존재적일계렬문제；제고금융궤구대시장지표적민감도이급금융시장적정책민감도종이제고화폐정책적효과；구건완정적배투적법률체계이완선정개시장체제등。
Firstly,this paper reviews the monetary demand theory;then uses the data to estimate Friedman’s regression equation by the least squares method and analysis it by the associated test,it is concluded that China’s monetary demand function for M/P=10 . 09872 ,the situation is stable and the income elasticity and the interest rate elasticity is very small,it indicates that the implementation of monetary policy is not good. Then this paper puts for-ward some related suggestions:resolve a series of the problems existing in the financial markets and financial institu-tions quickly;improve the financial institutions’s sensitivity to the market indicators and the financial market policy so as to improve the effectivness of monetary policy;build and form a complete set of legal system to perfect the mar-ket system.