貨幣政策應(yīng)對(duì)資產(chǎn)價(jià)格泡沫新議
發(fā)布時(shí)間:2018-05-13 03:21
本文選題:貨幣政策 + 資產(chǎn)價(jià)格泡沫。 參考:《經(jīng)濟(jì)體制改革》2011年06期
【摘要】:結(jié)合美國經(jīng)濟(jì)數(shù)據(jù),對(duì)次貸危機(jī)前美聯(lián)儲(chǔ)信奉的"貨幣政策無需直接應(yīng)對(duì)資產(chǎn)價(jià)格泡沫"的主流理論進(jìn)行了反思,基于對(duì)資產(chǎn)價(jià)格泡沫的成本、可識(shí)別性以及應(yīng)對(duì)方式的分析,筆者認(rèn)為,資產(chǎn)價(jià)格泡沫破裂可能帶來高成本,而資產(chǎn)泡沫可以漸進(jìn)識(shí)別,中央銀行應(yīng)當(dāng)直接針對(duì)資產(chǎn)價(jià)格泡沫風(fēng)險(xiǎn)采取貨幣政策措施,但這種直接應(yīng)對(duì)不應(yīng)當(dāng)是機(jī)械的,其目的應(yīng)當(dāng)是防止形成嚴(yán)重的資產(chǎn)價(jià)格泡沫,而不是直接調(diào)控資產(chǎn)價(jià)格水平。
[Abstract]:Combined with American economic data, this paper reflects on the mainstream theory that the Federal Reserve believed in before the subprime mortgage crisis that "the monetary policy does not have to deal with asset price bubbles directly", based on the analysis of the cost, identifiability and coping style of asset price bubbles. In my opinion, the bursting of asset price bubble may bring high cost, and asset bubble can be gradually identified. The central bank should take monetary policy measures directly against the risk of asset price bubble, but this kind of direct response should not be mechanical. The aim should be to prevent a serious asset price bubble, rather than directly regulating asset price levels.
【作者單位】: 四川大學(xué)經(jīng)濟(jì)學(xué)院;中國人民銀行總行研究生院;
【分類號(hào)】:F822.0
【二級(jí)參考文獻(xiàn)】
相關(guān)期刊論文 前1條
1 易綱,王召;貨幣政策與金融資產(chǎn)價(jià)格[J];經(jīng)濟(jì)研究;2002年03期
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1 趙曉;;貨幣政策已到尾聲[J];中外管理;2011年08期
2 張茉楠;;盯住全球貨幣政策失當(dāng)風(fēng)險(xiǎn)[J];w,
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