以电子货币为视角,将其引入通货膨胀形成机制的理论分析框架。研究发现,电子货币对通货膨胀的影响主要体现在放大效应和加速效应两个方面,从而加大了中央银行调控货币政策的难度。同时选取我国1990-2009年的相关样本数据,通过构建计量经济模型,对放大效应以及加速效应与通货膨胀的相关性进行了统计检验。实证结果表明,电子货币的通货膨胀效应显著存在,并提出了相关的对策建议。
The emergence and development of electronic money have produced impacts on many traditional financial theories, including a significant effect on inflation. In this paper, electronic money is introduced into the framework of the formation mechanism of inflation. It is found that the circulation of electronic money has magnified and accelerated the inflation, which increase the difficulty of macro control by the central bank. Then the empirical study has been done to test the amplification and acceleration effects by the data from 1990 to 2009. As is shown in the empirical results, both of the two effects are significant. At last, some suggestions are given.