我國擴(kuò)張性貨幣政策退出的策略分析
發(fā)布時(shí)間:2018-02-14 20:20
本文關(guān)鍵詞: 擴(kuò)張性貨幣政策 退出 時(shí)機(jī)選擇 力度控制 工具選擇 出處:《中國流通經(jīng)濟(jì)》2010年02期 論文類型:期刊論文
【摘要】:本文認(rèn)為,當(dāng)前的擴(kuò)張性貨幣政策無法解決經(jīng)濟(jì)增長方式調(diào)整滯后和收入分配失衡等深層次矛盾,并蘊(yùn)含著財(cái)政風(fēng)險(xiǎn)、金融風(fēng)險(xiǎn)與政策信譽(yù)風(fēng)險(xiǎn),這決定了其退出的必然性。從就業(yè)、消費(fèi)和民間投資三個(gè)指標(biāo)來看,擴(kuò)張性貨幣政策已逼近安全邊界;在時(shí)機(jī)選擇上,我國應(yīng)先于歐美發(fā)達(dá)國家實(shí)施退出策略;在力度控制上,不僅要考慮經(jīng)濟(jì)數(shù)據(jù),也要考慮集團(tuán)利益的制衡;在工具選擇上,應(yīng)結(jié)合國情,有計(jì)劃、有步驟地實(shí)施退出策略。另外,應(yīng)注重與轉(zhuǎn)變經(jīng)濟(jì)增長方式、財(cái)政刺激計(jì)劃的退出及國際協(xié)調(diào)的配合。
[Abstract]:This paper argues that the current expansionary monetary policy cannot solve the deep-seated contradictions, such as the adjustment lag of economic growth mode and the imbalance of income distribution, and contains financial risk, financial risk and policy reputation risk. In terms of employment, consumption and private investment, expansionary monetary policy is close to the security boundary. In terms of timing, China should implement exit strategy before the developed countries in Europe and the United States. We should not only consider economic data, but also consider the checks and balances of group interests; in the choice of tools, we should implement exit strategies in a planned and systematic manner in the light of national conditions. In addition, we should pay attention to and transform the mode of economic growth. Withdrawal of the fiscal stimulus package and international co-ordination.
【作者單位】: 廈門大學(xué)金融系;
【基金】:國家社科重大項(xiàng)目“擴(kuò)大國內(nèi)需求的宏觀經(jīng)濟(jì)政策研究”(項(xiàng)目編號(hào):08&ZD034) 教育部人文社科重點(diǎn)研究基地重大項(xiàng)目“我國貨幣政策的區(qū)域經(jīng)濟(jì)效應(yīng)研究”(項(xiàng)目編號(hào):08JJD790136)的階段性成果
【分類號(hào)】:F822.0
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