首页> 外文期刊>British Journal of Economics, Management & Trade >The Differentiated Research of Chinaa€?s Monetary Policya€?s Effect on Stock Price under the SVAR Model----Empirical Analysis Based on Different Economic Backgrounds
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The Differentiated Research of Chinaa€?s Monetary Policya€?s Effect on Stock Price under the SVAR Model----Empirical Analysis Based on Different Economic Backgrounds

机译:SVAR模型下中国货币政策对股票价格影响的差异研究-基于不同经济背景的实证分析

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摘要

This paper empirically analyzes the impact of China’s monetary policy on stock price in different economic backgrounds by constructing the SVAR (Structural Vector Auto Regression) based on the standard VAR (Vector Auto Regression). The results show that: (i) In different economic backgrounds, the direction and size of China’s monetary policy’s impact on stock price are not same; (ii) There exist different impacts on stock price from monetary policy in short run, but in long-term the impacts do not exist in two economic backgrounds.
机译:本文通过基于标准VAR(向量自动回归)构建SVAR(结构向量自动回归),对不同经济背景下中国货币政策对股票价格的影响进行了实证分析。结果表明:(i)在不同的经济背景下,中国货币政策对股票价格的影响方向和规模都不相同; (ii)从短期来看,货币政策对股票价格的影响不同,但从长远来看,在两种经济背景下都不存在影响。

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