Study on the Interaction Mechanism of Economic Growth and Inflation under the Background of Economic Financialization

Abstract

Abstract:

With the rapid development of fictitious economy, the financialization degree can no longer be ignored for its influence on the relationship between economic growth and inflation. In consideration of the evolvement from the period of industrialization to economic financialization of the U.S., through the Bayesian network learning of rolling time window, we concentrate on the dynamic interaction mechanism between economic growth and inflation under the background of economic financialization. It turns out that the interactive relationship between fictitious economy and real economy is becoming closer and closer. Furthermore, in the order of bond, stock and real estate market, indicators related to fictitious economy gradually enter into the transmission mechanism of economic growth and inflation.

Key words: economic growth, inflation, economic financialization, Bayesian network

Lu Xiaolin, Guo Kun, Dong Zhi. Study on the Interaction Mechanism of Economic Growth and Inflation under the Background of Economic Financialization[J]. , 2018, 30(1): 14-23.

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