当前我国货币政策困境及取向思考

发布时间：2019-01-07 10:15

【摘要】：本文围绕美国新政府"政策取向"的不确定性以及国内宏观经济基本面存在的问题,分析了我国当前出现的货币政策困境,并指出下一阶段化解困境的可能取向:央行应该遵循"宏观政策要稳、微观政策要活"的总体思路,更加注重改革创新活力的激发与深化,对外要密切关注复杂国际形势的变化,对内要以金融供给侧改革为着力点,依托货币政策改革为实体经济创造良好的货币环境,以实现资源的有效再配置和供给效率的再提升;择时进行汇率制度改革,防范汇率大幅度波动以确保汇率稳定的基本基调;在把握好金融领域"降杠杆"主基调的基础上,运用松紧有序、灵活可变的动态货币政策调整手段,坚定地实施市场化改革和全方位的开放,抵御外部事件和金融风险的冲击。
[Abstract]:Focusing on the uncertainty of the "policy orientation" of the new US government and the problems existing in the domestic macroeconomic fundamentals, this paper analyzes the current monetary policy dilemma in China. It also points out the possible orientation of resolving the dilemma in the next stage: the central bank should follow the general idea of "macro policy should be stable, micro policy should be alive", and pay more attention to the stimulation and deepening of the vitality of reform and innovation. We should pay close attention to the changes of the complex international situation, focus on the financial supply-side reform and create a good monetary environment for the real economy relying on the monetary policy reform, so as to realize the effective reallocation of resources and the re-promotion of supply efficiency. Carry on the exchange rate system reform at the right time to prevent the exchange rate from fluctuating by a large margin in order to ensure the basic tone of the exchange rate stability; On the basis of grasping the main tone of "reducing leverage" in the financial field, applying the flexible and flexible dynamic monetary policy adjustment means, we should firmly implement the market-oriented reform and the all-around opening to resist the external events and financial risks.
【作者单位】：浙江金融职业学院国际金融教研室;
【基金】：浙江省教育厅课题“汇率视角的货币政策溢出效应研究”(批号:Y201635549) 浙江省哲学社会科学规划课题“我国货币政策的资产价格效应问题研究”(批号:13NDJC30YBM) 浙江省金融教育基金会课题“小微企业融资模式创新机制研究”(批号:2016Y14)
【分类号】：F822.0

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