Study Of The Microscopic Foundation Of The Effectiveness Of Monetary Policy

qPart one: The objects of this thesis and its significanceThe effectiveness of monetary policy is always a core issue, a hot matter, also an important and practical problem in macro-economic research filed. So how deeply and system the study of the effectiveness of monetary policy is, and whether central bank can control economy properly would directly effect whether the goals of macro-economy can be reached. Traditional monetary policy theories focus on the angle of macro-economic gross to discuss the effectiveness of monetary policy. But in fact, many micro-foundations'integrative action determines monetary policy effect. So to study monetary policy effect must study micro-foundations'integrative action. Research on micro-foundations of macro-economic issues is an important trend in development of current macro-economy theories.This thesis mainly adopts qualitative analysis and quantitative analysis. The angle of this thesis is the reflection of micro-foundations to monetary policy. The thesis emphases on quantitative analysis the relationship between monetary policy and manufacturers'anticipation, and measure the impact of monetary policy shocks on the outputs of different industries in China. I hope my thesis is propitious to making Chinese monetary policy.Part two: The main contentThe thesis has four chapters as follows: The summary and review of domestic and overseas theories on the effectiveness of monetary policy, the theory analysis on mechanism of the effect of micro-foundations to monetary policy, the empirical analysis, the conclusion and suggestions. The first chapter mainly reviews the domestic and overseas theories about the effectiveness of monetary policy. The author classifies these literatures from four angles, such as how to define and quantity the...