本文选取2005年人民币汇率形成机制改革之后的月度数据,运用计量模型实证检验了国际通货膨胀对中国物价的总体效应,结果显示,国际通胀能引起国内物价上升,并且对中国通胀的作用效力越来越大。此外,本文还考察了通胀输入中国的各条传导路径,研究发现,价格传导和货币传导是通胀输入中国的主要路径,而总供给-总需求传导路径不显著。
With the trend of economic globalization further strengthening,the influence of input inflation on China's economy is increasingly significant.Selecting the monthly data after exchange rate reform,this paper provides empirical evidence on international transmission of inflation to China,and the result shows that international inflation can cause domestic price hike in China with a growing extent.Based on this,this paper also discusses the possible paths of international transmission,with the conclusion that price as well as monetary transmission path turns out to be the main transmission route,while other paths are not significant.