This paper would introduce the method for measuring currency conversion factor based on GDP production side in International Comparison of Output and Productivity (ICOP), that is Unit Value Ratio (UVR), and analyze it...This paper would introduce the method for measuring currency conversion factor based on GDP production side in International Comparison of Output and Productivity (ICOP), that is Unit Value Ratio (UVR), and analyze its problems in practical application.Finally its difference from Purchasing Power Parity(PPP) would be presented.展开更多
The effectiveness of monetary policy depends on the period of business cycle。By recognizing the monetary policy regime switching and testing for the money-output relationships,we find that in China’s economy,tight m...The effectiveness of monetary policy depends on the period of business cycle。By recognizing the monetary policy regime switching and testing for the money-output relationships,we find that in China’s economy,tight monetary policy slow the economy in the boom more than easy monetary policy accelerates the economy in the recession.At current situations,the targets of robust monetary policy are to stimulus nominal economy and expand the effective demand.展开更多
文摘This paper would introduce the method for measuring currency conversion factor based on GDP production side in International Comparison of Output and Productivity (ICOP), that is Unit Value Ratio (UVR), and analyze its problems in practical application.Finally its difference from Purchasing Power Parity(PPP) would be presented.
文摘The effectiveness of monetary policy depends on the period of business cycle。By recognizing the monetary policy regime switching and testing for the money-output relationships,we find that in China’s economy,tight monetary policy slow the economy in the boom more than easy monetary policy accelerates the economy in the recession.At current situations,the targets of robust monetary policy are to stimulus nominal economy and expand the effective demand.
