本文選題：通貨膨脹 + 福利成本��； 參考：《統(tǒng)計(jì)研究》2013年08期

【摘要】：本文在貨幣效用模型(MIU)框架下研究我國通貨膨脹福利成本問題,理性經(jīng)濟(jì)人的動(dòng)態(tài)最優(yōu)化選擇行為產(chǎn)生了一組隨機(jī)非線性歐拉方程。利用這些方程,在穩(wěn)定狀態(tài)下推導(dǎo)出估計(jì)通貨膨脹福利成本的方法。實(shí)證分析以歐拉方程為基礎(chǔ),利用廣義矩方法(GMM)估計(jì)模型參數(shù),進(jìn)而估計(jì)出我國1995-2012年的通貨膨脹福利成本。我們發(fā)現(xiàn)名義利率比通貨膨脹率對(duì)通貨膨脹福利成本的影響更大,在低通貨膨脹水平,通貨膨脹率對(duì)福利成本的影響更大。本文闡述的估計(jì)通貨膨脹福利成本的方法的優(yōu)勢在于能夠同時(shí)考慮通貨膨脹率和名義利率兩個(gè)變量的影響,而傳統(tǒng)估計(jì)方法只能利用名義利率作為持有貨幣的機(jī)會(huì)成本變量來估計(jì)通貨膨脹福利成本。
[Abstract]:In this paper, we study the problem of inflation welfare cost in China under the framework of monetary utility model. A set of stochastic nonlinear Euler equations are generated by the dynamic optimization of rational economic man. Using these equations, a method for estimating the cost of inflation welfare is derived under stable state. Based on the Euler equation, the model parameters are estimated by the generalized moment method (GMMM), and the inflation welfare costs in China from 1995 to 2012 are estimated. We find that nominal interest rates have a greater impact on inflationary welfare costs than inflation rates, and that inflation rates have a greater impact on welfare costs at low inflation levels. The advantage of the method described in this paper for estimating the cost of inflation benefits lies in the ability to consider the effects of both the inflation rate and the nominal interest rate at the same time. The traditional estimation method can only use the nominal interest rate as the opportunity cost variable of holding currency to estimate the inflation welfare cost.
【作者單位】： 華東交通大學(xué)經(jīng)濟(jì)管理學(xué)院;
【分類號(hào)】：F224;F822.5

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相關(guān)期刊論文 前6條

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本文編號(hào)：1784495