摘要
在当前国际金融危机的背景下,货币政策面临短期"保增长"与长期"调结构"的权衡,有必要对中国货币政策的有效性进行深入考察。本文的研究得出下列结论:第一,广义货币供应量、经济增长率以及居民消费价格指数之间具有大体一致的波动关系,三个变量能够很好地反映我国宏观经济的运行状况;第二,我国货币政策的制定与实施具有很强的阶段性特征;第三,我国货币兼具中性和非中性的特征;第四,按照传统分析标准,我国制定和实施的货币政策是有效的。
In the background of present international financial crisis, since the monetary policy is confronted with the competition between short-term ＂ensuring of increase＂ and long-term ＂adjusting of structure＂, it is necessary to carry out profound investigation of China＇s monetary policy. This paper mainly draws the following conclusions： first, the generalized money supply, the economic growth rate as well as the CPI have roughly the consistent undulation relations and the three variables can reflect fully our macro economy movement; second, the formulation and the implementation of our monetary policy bear strongly the characteristics of phases ; third, our currency bears concurrently neutral and non-neutral characteristics ; fourth, according to traditional analysis standard, our formulation and implementation of monetary policy is effective.
出处
《江苏行政学院学报》
CSSCI
北大核心
2009年第6期43-48,共6页
The Journal of Jiangsu Administration Institute
基金
国家社会科学基金项目<国际金融危机对我国外向型经济的影响>(09BJY001)
国家自然科学基金项目(70873052)的资助
关键词
货币政策
有效性
货币的性质
Monetary Policy
Validity
Nature of Currency
