汇率制度与货币政策的协同分析  

Analysis on Exchange Rate Policy and Monetary Policy

作　　者：赵武[1] 

机构地区：[1]西安交通大学经济与金融学院,西安710049

出　　处：《广东金融学院学报》2005年第3期12-16,23,共6页Journal of Guangdong University of Finance

摘　　要：汇率制度与货币政策规则存在着十分紧密的联系,汇率变动会对货币政策有效性产生重要的影响,因而汇率制度安排不应独立于货币政策体系之外,而应把汇率制度安排放在货币政策体系内来考虑。在浮动汇率制度下,货币政策规则采用直接钉住通货膨胀为目标,在控制通货膨胀方面起到了与固定汇率制基本相同的作用,而且货币政策还具有更大的自主性,因而弹性汇率制与通货膨胀目标组合优于固定汇率制以及由此决定的货币钉住的组合。There is a close relationship between exchange rate policy and monetary policy! the change of exchange rate policy will have a major influence on the effectiveness of the monetary policy. As a result, the establishment of the exchange rate policy should not be excluded from the monetary policy system. Under the floating exchange rate system, the objective of monetary policy rule is following the inflation rate; it has the same effect as fixed exchange rate system regarding controlling the inflation. Moreover, the monetary policy still has many rooms for freedom. Therefore, the combination of flexible exchange rate system and the objective of inflation are superior to the combination of fixed exchange rate system and fixed monetary system.

关 键 词：货币政策规则 货币政策体系 货币政策有效性 固定汇率制 协同 汇率制度安排 浮动汇率制度 通货膨胀 弹性汇率制 汇率变动 自主性 组合 

分 类 号：F822.0[经济管理—财政学] F832.33