【摘要】 经济是由实体经济和虚拟经济两大体系构成的,金融资产投资者拥有的金融资产也是由这两大经济体发行的。按发行方不同,将金融资产划分为实体经济金融资产与虚拟经济金融资产两大类,并定义二者之间的结构关系为金融资产发行结构,理论推演了金融资产发行结构与经济波动的关系,并基于VAR模型对此关系进行了实证研究。研究结果表明:金融资产发行结构与经济波动呈负相关关系,金融资产发行结构变动能够解释将近52%的经济波动,成为研究经济波动的又一视角。更多还原

【Abstract】 The economy is composed by real economy and fictitious economy,and the financial assets invested by the investors was issued by them.In this paper,based on the division of real economy financial assets and fictitious economy financial assets,the author studied the relationship between the financial assets issuing structure and volatility of the economic.Using the VAR model analyzed the relationship for the empirical research.The results showed that there was a negative correlation between the financial assets issuing structure and the economic fluctuation,and the the financial assets issuing structure change can explain nearly 52% of the economic fluctuation,and the financial assets issuing structure become a new views of studying economic fluctuation.更多还原