The Role Of China's Financial Asset Prices In Monetary Policy

Part one: The main contentThe thesis focuses on the impact that asset price has on monetary policy. It aims to basically answer the questions of why and how asset price should be a reference parameter for monetary authorities'judgment. The thesis has four chapters and the main contents are as follows:The first chapter firstly reviews the theories about channels for monetary transmission mechanism, and then elaborates the impact that the development of capital market has on the monetary policy.The second chapter discusses general laws of asset price taking effect in monetary transmission mechanism, and analyzes the interrelationship between asset price and monetary policy in China by positive approach.The third chapter firstly introduces two entirely different views on whether asset price should be the target of monetary policy. Then based on analysis of China's monetary regulation system and internal fund movement system in capital market, the author comes up with the opinion that asset price should be a reference parameter for China's monetary authorities' judgment system.The last chapter is the conclusion and some suggestions.Part two: The main contributions of this thesisThe theoretical and practical value of the thesis lays on the suggestions of bringing asset price into the policy of the reference parameter for monetary authorities' judgment system of Chinese government which based on the analysis of two parts: the effect of asset price on monetary transmission mechanism and the research of foreign studies.Certainly, due to the limitation of the author's own capability and knowledge, there are some flaws in this thesis. The author hope that the...