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Web of Proceedings - Francis Academic Press

The Influence of Structural Monetary Policy on Bond Market

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DOI: 10.25236/icefbd.18.079


Pin Peng

Corresponding Author

Pin Peng


Structural monetary policy is different from the traditional monetary policy tools, which has a directional role in regulating China's economic operation. This paper chooses the indicators representing the liquidity of the bond market and monetary policy, combines the yield and volatility of the bond market as the control variables, and uses the VAR model to make an empirical study on the impact of structural monetary policy on the liquidity of the bond market. The results show that structural monetary policy has a relatively poor impact on the bond market. On this basis, this paper puts forward corresponding countermeasures and suggestions to provide some references for the relevant researchers.


Structural Monetary Policy, Bond Market, Macro Economy