我国现阶段货币供应量、物价水平和产出关系的实证研究

ollecting data of Chinese money supply, price and output from Jan.2004 to March.2009, adopting co-intergration analysis, error correction model and Granger causality test, this thesis analys the inter-relationship of money supply, price and output.The results show that: with the improvement of china's economic system, the inter-relationship between these three has changed; There is long-term relationship among M2, price and output; In the short term, the "invisible hand" , market has been relatively effective to the output regulation; China is unfavorable choose monetary supply as the intermediate target for monetary policy for the time being.