人民币升值压力下我国货币政策的两难选择  

China's Monetary Policy Dilemma under the Pressure of RMB Appreciation

作　　者：周觉[1] 林慕楠[1] 

机构地区：[1]北京信息科技大学经济管理学院,北京100011

出　　处：《金融教育研究》2012年第1期19-23,27,共6页Research of Finance and Education

基　　金：北京市教育委员会社科计划面上项目(71E0910930)资助

摘　　要：文章通过对导致人民币升值的内、外原因进行分析的基础上,利用斯旺模型和政策组合模型阐释了目前我国货币政策所处的困境。研究结果表明:政府利用财政、货币政策作为统一的政策工具进行需求管理时,在我国失业、通胀与国际收支顺差并存经济条件下,货币政策难以实现对内与对外的同时均衡。如何充分发挥货币政策的作用,需要货币政策本身的完善,也需要货币政策与其他政策的协调。Based on the analysis of internal and external factoi, s causing the appreciation of RMB, this paper states the current dilemma of China＇ s monetary policy by using Swan Model and Policy Model. The result of the research shows that, when fiscal and monetary policies are set as unified policies by government for demand management, and on the economic condition upon unemployment, inflation and surplus on the balance of payment, the goal of balance of both internal and external is hard to meet only by monetary policy. Taking full advantage of monetary policy does not only require the improvement of monetary policy itself,but also the coordination of monetary policy and other policies as well.

关 键 词：人民币升值 内外均衡 货币政策的两难选择 

分 类 号：F822.0[经济管理—财政学]