【摘要】 本文运用结构向量自回归（SVAR）模型方法,研究了我国流动性过剩对物价和产出所产生的动态冲击效应。主要结论是:流动性过剩正冲击对物价仅有短期正效应,即在短期促使物价上涨。流动性过剩正冲击对产出有正效应,而且其效果是中长期有效的,即流动性过剩在中长期促进产出增长。货币供应量M₂对产出的增长的效力相对较大,而货币供应量M₁对物价的影响力相对较大。更多还原

【Abstract】 In this paper the dynamic impulsive effect of liquidity surplus upon price and output in our country is analyzed,based on the structural VAR model.We conclude that liquidity surplus only has a short-term positive effect upon the price level,which means liquidity surplus may raise price level in a short period of time.The positive impact of liquidity surplus has positive effect upon the output,and it is long-run effect,i.e.the liquidity surplus promotes output to increase in a long run.The Money supply M₂ has more significant effect on the increase of output,while the money supply M₁ has more significant effect on the price level.更多还原