| 中文摘要 | 第3-5页 |
| 英文摘要 | 第5-6页 |
| Chapter 1 Introduction | 第9-13页 |
| 1.1 Background | 第9-11页 |
| 1.2 Research approach | 第11-13页 |
| Chapter 2 Literature review | 第13-27页 |
| 2.1 Classical theory of money supply and inflation | 第13-15页 |
| 2.1.1 Quantity theory of money | 第13-14页 |
| 2.1.1.1 Quantity theory of cash transaction | 第13-14页 |
| 2.1.1.2 Cash balance approach | 第14页 |
| 2.1.1.3 Knut Wicksell's amendment of quantity theory of money | 第14页 |
| 2.1.2 Monetarism's point of view | 第14-15页 |
| 2.2 Studies about asset price and inflation | 第15-20页 |
| 2.2.1 Dispute of whether asset price could affect inflation | 第16-19页 |
| 2.2.1.1 whether asset price could exert impact upon inflation | 第16-17页 |
| 2.2.1.2 Whether asset price could be the leading signal of inflation | 第17-19页 |
| 2.2.2 Dispute of whether asset price could be included in measurement of inflation | 第19-20页 |
| 2.3 The research of asset price and response of monetary policy | 第20-27页 |
| 2.3.1 Monetary policy should respond to the movements of asset price | 第20-23页 |
| 2.3.2 Rebut on above opinions | 第23-27页 |
| Chapter 3 Theoretical study of monetary policy, asset price and inflation | 第27-46页 |
| 3.1 Monetary policy framework in developed countries and China | 第27-33页 |
| 3.1.1 Fundamentals and new changes of monetary policy framework in developed countries | 第27-31页 |
| 3.1.1.1 Fundamentals | 第27-29页 |
| 3.1.1.2 New Changes after financial crisis | 第29-31页 |
| 3.1.2 Objectives, instruments and mechanism of monetary policy in China | 第31-33页 |
| 3.2 Introduction of monetary transmission mechanism | 第33-46页 |
| 3.2.1 Asset price fluctuations and money channel of monetary policy transmission | 第34-39页 |
| 3.2.1.1 Real interest rate channel under closed economy model | 第35-36页 |
| 3.2.1.2 Exchange rate channel | 第36页 |
| 3.2.1.3 Asset portfolio channel | 第36-37页 |
| 3.2.1.4 TobinQ effect and corporate financing | 第37-38页 |
| 3.2.1.5 The wealth effect of asset price | 第38-39页 |
| 3.2.2 Asset price fluctuations and credit channel of monetary policy transmission | 第39-43页 |
| 3.2.2.1 Banking lending channel | 第40-41页 |
| 3.2.2.2 Balance sheet channel | 第41-43页 |
| 3.2.3 Asset price and inflation | 第43-46页 |
| Chapter 4 Empirical analysis | 第46-76页 |
| 4.1 Econometrics model | 第46页 |
| 4.2 Data selection | 第46-48页 |
| 4.3 Data testing | 第48-76页 |
| 4.3.1 Unit root test | 第48-50页 |
| 4.3.2 Co-Integration test | 第50-55页 |
| 4.3.3 Lag Order Selection | 第55-56页 |
| 4.3.4 VAR Estimates | 第56-62页 |
| 4.3.5 AR root test | 第62-65页 |
| 4.3.6 Granger causality | 第65-68页 |
| 4.3.7 Impulse response function | 第68-72页 |
| 4.3.8 Variance decomposition | 第72-76页 |
| Chapter 5 Conclusion | 第76-79页 |
| 5.1 Asset price could predict inflation | 第76-77页 |
| 5.2 Monetary policy's influence upon asset price | 第77页 |
| 5.3 Implications | 第77-79页 |
| Bibliography | 第79-81页 |
| Acknowledgements | 第81-82页 |
