作　　者： ;

机构地区： 广东商学院

出　　处： 《上海金融》 2012年第5期10-15,116,共6页

摘　　要： 以GDP作为货币需求函数的规模变量,实际隐含一个假设:GDP各组成部分的货币需求弹性完全一致。本文以边界检验法实证表明,消费支出、资本形成支出、出口、进口的货币需求弹性相差很大,以GDP总量作为规模变量会导致估计系数有偏问题。改革开放以来中国GDP的构成比例发生了很大变化,这可能也是导致中国高货币化的原因之一。 When GDP is used as scale variable in money demand,it assumes implicitly that the components of GDP possess the identical elasticity of money demand.But the empirical analysis by bounds testing in this paper demonstrates that there is a huge gap of elasticity on money demand among consumption expenditure,capital expenditure,export and import,which results in a biased estimate of coefficient with GDP as the scale variable.The proportion of GDP components has changed greatly since the opening-up reform,which could among others lead to the high level of China's monetization.

关 键 词： 组成结构 货币需求 弹性系数

领　　域： [经济管理]