The Quantity Analysis On The Transmission Mechanism Validity Of Chinese Monetary Policy

The transmission mechanism of monetary policy is refers to the Central Bank utilizes some kinds of monetary policy tools or the combination of some monetary policy tools, directly or indirectly affects monetary policy intermediary goals, then causes the microscopic economic subject to adjust own economic activities, thus achieves the new balanced process of national economy. With joined the World Trade Organization, so china must fulfill the correlation pledges, the financial industry is opening to the world step speeds up obviously, financial innovation dynamics is also enlarging, simultaneously the economy of china day by day will integrate in the globalization, and transmission mechanism of monetary policy will become more complex. Stemming from the risk and income measuring, our country microscopic economic subject will have the important transformation in many aspects, for example , the behavior of holding the currency, the property choice, investment and financing and so on. But the microscopic economic activities directly will cause the scale of capital market and the structure change and affects the currency supplies and the demand, and then it will affect the transmission mechanism formulation of monetary policy, the implementation and the transmission effect. In the new economic situation , tradition monetary policy tool and the operation goal under the new economic situation will not be insensitive to economy development reflection, simultaneously in the monetary policy transmission interior and exterior two links, some monetary policy transmission channels meet "stops up". As the finance management structure, the People's Bank of China will carry out the currency regulative difficulty, how the traditional and the emerging transmission mechanism effect of monetary policy become the topic and the research hot spot which the people will pay attention day by day. Thus it can be seen, conducting quantity research to the transmission mechanism of monetary policy. Validity has the extremely vital practical significance under the new economic situation.The article will rest on the correlation currency and the financial theory, will apply certain statistical analysis method, will carry on quantity analysis to the transmission of monetary policy, will outlet to perfect monetary policy method, simultaneously based on the correlation conclusion, the article will give the rational proposals.As to transmission mechanism of the monetary policy, the research of validity...