【摘要】：全球金融危機和美國貨幣政策的變化密不可分,美國貨幣利率持續(xù)13次調(diào)降之后又持續(xù)17次大幅提升,從低利率貨幣信貸擴張的流動性過剩到高利率的流動性緊縮,使宏觀經(jīng)濟產(chǎn)生劇烈波動,前期低利率帶來過剩的流動性,后期利率的提高造成巨量房地產(chǎn)泡沫的破滅。由于美聯(lián)儲貨幣政策一貫秉持的"泰勒規(guī)則"指導原則沒有納入資產(chǎn)價格因子,致美聯(lián)儲貨幣政策調(diào)控失誤。
[Abstract]:The global financial crisis is inextricably linked to the changes in US monetary policy, with US monetary rates falling 13 times and then rising 17 times, from excess liquidity in the expansion of low-interest money credit to tight liquidity at high interest rates. The macro-economy fluctuates violently, the low interest rate in the early stage brings excess liquidity, and the increase in the interest rate in the later period causes the bursting of the huge real estate bubble. The failure of the Federal Reserve's monetary policy to regulate its monetary policy was due to the fact that the Taylor rule, which has always been the guiding principle of the Federal Reserve's monetary policy, does not incorporate asset price factors.
【作者單位】： 深圳大學經(jīng)濟學院;
【分類號】：F827.12

【相似文獻】

中國期刊全文數(shù)據(jù)庫 前10條

1 安狄;;警惕隱性QE3[J];投資北京;2011年08期

2 馮一凡;;真要迎接QEn?[J];新理財(政府理財);2011年07期

3 斯蒂芬·金·塞凱迪;吳鳳丹;;正視資產(chǎn)泡沫[J];中國貨幣市場;2002年Z1期

4 皇甫平麗;;新興市場“兩難”應對量化寬松[J];w，

本文編號：2451368