金融危机下货币政策及其效果:基于国际比较的视角

发布时间：2018-02-16 13:51

本文关键词： 货币政策 M 金融危机 GDP　出处：《国际金融研究》2011年09期 　论文类型：期刊论文

【摘要】：由2007年美国次贷危机引发的金融危机席卷全球,绝大多数经济体受到了不同程度的影响,全球经济呈现衰退趋势。为应对金融危机、防止经济进一步下滑,各国货币管理当局纷纷根据本国特点制定了积极的货币政策。本文选择中国、美国、日本以及欧元区这四个主要经济体作为研究对象,就其在金融危机下采取的货币政策及其效果展开深入分析。我们发现:中国倾向于选择传统的货币政策工具,美国偏重于货币政策工具的创新,日本货币政策更加基于银企密切的关系,而欧洲则偏重于货币政策的国际协调。从整体上看,货币政策对于带动经济走出危机起到了重要作用,不过货币政策效果在各经济体之间还是存在差异的。
[Abstract]:Since 2007, when the financial crisis triggered by the subprime mortgage crisis in the United States swept the world, the vast majority of economies have been affected to varying degrees. The global economy has shown a trend of recession. In order to deal with the financial crisis and prevent the economy from falling further, Monetary authorities of various countries have formulated active monetary policies according to their own characteristics. In this paper, four major economies, namely, China, the United States, Japan and the euro zone, are selected as the research subjects. We find that China tends to choose the traditional monetary policy tools, while the United States focuses on the innovation of monetary policy instruments. Japan's monetary policy is more based on the close relationship between banks and enterprises, while Europe's emphasis is on international coordination of monetary policy. On the whole, monetary policy has played an important role in bringing the economy out of the crisis. But the effectiveness of monetary policy varies from economy to economy.
【作者单位】：中央财经大学金融学院;中央财经大学;
【基金】：国家自然科学基金项目资助,项目批准号“71003113” 中央财经大学“中央财经大学青年科研创新团队支持计划” “211工程”三期重点学科建设项目“现代金融学科体系的创新与发展”资助
【分类号】：F821.0

【参考文献】