进一步开放条件下货币政策和汇率政策的协调  

Coordination of the Monetary and Exchange Rate Policy under the Condition of Further Opening

作　　者：刘攀[1] 

机构地区：[1]西南财经大学金融学院,四川成都610074

出　　处：《新疆财经》2005年第2期36-39,共4页Finance & Economics of Xinjiang

摘　　要：根据克鲁格曼“永恒的三角”理论,以及1994年以来的实证分析,我国在人民币不能自由兑换的条件下,中央银行能够通过相应的冲销干预来实现货币政策目标和汇率稳定。但是,在进一步开放条件下,我国的宏观经济决策将面临独立的货币政策和稳定汇率目标之间的冲突。为此,作者提出了放宽汇率的波动幅度以及增强货币政策的灵活性的政策建议。According to Krugman's 'eternal triangle' theory and the empirical analysis, China's central bank can implement sterilization measures to realize the goal of monetary policies and stabilize exchange rate. However, under the condition of further opening, China's macro-economic decisions face the conflict between the targets of independent monetary policy and stable exchange rate. Thus, the author puts forward such proposals as expanding target zone of exchange rate as well as increasing flexibility of monetary policies.

关 键 词：“永恒的三角” 货币政策 汇率政策 冲销操作 

分 类 号：F822.0[经济管理—财政学]