主题：M2与通胀 -- MRandson

Chow, G.C. and Y. Shen(2005) "Money, price level and output in the Chinese Macro-economy", Asia-Pacific Journal of Accounting and Economics 12, 91-111.

看看最近几年有没有拐点吧。

根据1952-2002 数据

log(P)=-0.7127+0.3738log(M2/Y), R-square=0.9639

^log(P)=-0.00017+0.155^log(M2/Y)+0.525^log(P-1)-0.1575ut-1 R-squre=0.6558

note:^ is delta.

2001 年加入WTO，进出口和外汇储备有一个转折性的增长。