【作者】 于学伟；

【导师】 王爱俭；

【作者基本信息】 天津财经学院 ， 金融学， 2005， 硕士

【摘要】 本文在虚拟经济条件下研究货币政策的选题,运用金融理论和方法,建立起一个较为完整的分析框架,力图起到抛砖引玉的作用,有利于虚拟经济研究的进展和货币政策实施效果的掌控。 论文首先界定所研究的虚拟经济范畴,虚拟经济的新特征,世界各国虚拟经济发展概况;然后阐述货币政策的最终目标、中介目标、政策工具等调控变量的选择,货币政策的传导机制及其效果等传统理论;接着分析虚拟经济通过影响财富分配、股权变动、自身信息传递等对实体经济作用传导机制,从而引出虚拟经济对货币政策各变量的影响,以及虚拟经济条件下货币政策的传导机制及其有效性;并得出虚拟经济的出现使货币政策最终目标朝多样化发展、虚拟经济使货币政策作用基础发生变化、货币政策传导机制更加复杂等论点。 论文最后首先从实证分析的角度,以国内外资本市场和房地产虚拟化的实际情况为例,分析货币政策实施过程中受到的影响,以及货币政策对此所采用的及时措施。房地产价格像其他资本市场上的金融资产一样会产生剧烈波动,而房地产价格的强波动性正是虚拟资产的重要特征。货币政策作为一国货币当局宏观调控的重要工具,应发挥其关键作用。其次,在理论和实证分析的基础上,探讨了中国货币政策是否应该进行调整,具体调整措施如何,从而达到适度发展虚拟经济的同时保证经济安全、健康、快速、有效增长的最终目标。更多还原

【Abstract】 This text studies the selected title of the monetary policy under fictitious economic terms, using financial theory and method, sets up a comparatively intact analysis frame, and trying hard to play a role in casting a brick to attract jade, in order to help progress of fictitious economic research and the controlling of monetary policy implementing effect. The thesis defines the fictitious economic categories studied, the new characteristic of fictitious economy at first, fictitious economic development overview of countries all over the world; Then explains the choice in such regulation and control variables as the final goal, intermediary’s goal, policy tool of the monetary policy, etc., such traditional theories as the conduction mechanism and result of the monetary policy, etc.; Then analyses fictitious economy through influencing such function conduction mechanisms of real economy correctly as wealth assigning, stock right change, one’s own information transmission, etc., thus draws the fictitious economic impact on every variable of the monetary policy, and the conduction mechanism and validity of the monetary policy under the fictitious economic condition. Draw fictitious appearance of economy make monetary policy final goal towards diversified to develop, the argument that the monetary policy conduction mechanism is more complicated, and that fictitious economy makes the function foundation of the monetary policy change etc.. Thesis from angle that real example analysis, takes domestic and international capital market and virtual actual conditions of real estate as an example at first finally, analyses that implements the influence that is received in the course, and the measure in time adopted toward this of monetary policy in monetary policy. Real estate price will produce violent to fluctuate like financial assets on other capital markets, the strong fluctuation of and the price of real estate are exactly an important characteristic of fictitious assets. Important tool as macro adjustments and controls of monetary authorities of one country’s monetary policy should play its key role. Secondly, on the basis of the thing that the theory and real example are analyzed, whether should be adjusted while probing into China’s monetary policy, concrete to adjust how about it will be measured, reach appropriate to guarantee economic security, healthily, fast, final goal that increase effectively while developing fictitious economy.更多还原