摘要
Abstract
At first,the paper uses the IS-LM-BP model and AD-AS model to explain that Chinese monetary policy impacts on the price of oil by influencing the supply and demand of the oil.Then in order to do empirical analysis on how Chinese monetary policy affects international oil price,it builds the SVAR model,impulse response funct ion and variance decomposition by the monthly data of international oil price,Ch inese industrial increase value,narrow money supply,broad money supply and inter est rate from July 2005 to May 2015.Research results:there is a equilibrium rela tionship among the five variables.And the impact of Chinese economic development is the largest,followed by the money supply.In the short term,the effect of M1 is more obvious than M2,the impact of interest rates on the contribution is rela tively small.On the basis of this conclusion,combining with the opening degree o f China,the oil supply and demand market and the reform of supply side,it puts f orward the policy recommendations.关键词
国际石油价格/中国货币政策/中国需求/SVAR模型/ADFKey words
international oil price/Chinese monetary policy/Chinese demand/SVAR model/ADF分类
管理科学
