货币政策宏观调控框架研究:共识、分歧与展望  

Macroeconomic Regulatory Framework of Monetary Policy:Consensus,Differences and Prospects

作　　者：张龙[1] 刘金全[2] ZHANG Long;LIU JinQuan(Jilin University,Changchun 130012)

机构地区：[1]吉林大学商学院,吉林长春130012 [2]吉林大学数量经济研究中心,吉林长春130012

出　　处：《财贸研究》2019年第5期48-58,共11页Finance and Trade Research

基　　金：国家社会科学基金项目“‘十三五’时期我国货币政策规则与货币政策调控机制研究”(15BJY174);国家自然科学基金项目“经济新常态下经济增长的趋势性与收敛性研究”(71873042);中共中央宣传部文化名家暨“四个一批”人才工程项目

摘　　要：不同阶段不同政策目标下,不同货币政策的宏观经济调控效果不同,合理构建货币政策宏观调控框架意义重大。通过对货币政策的“单一型”规则与“混合型”规则选择、货币政策的“降杆杆”与“稳杠杆”权衡等问题进行文献分析,发现我国货币政策宏观调控框架存在混合型规则、预期管理、经济政策协调配合等调控共识,但也存在评价指标单一、缺乏微观主体预期、经济政策交互效应考虑不足等问题,应将货币政策调控评价指标、货币政策预期管理、经济政策交互效应等问题作为主要研究方向和分析重点。Under different stages and policy targets,the effects of monetary policies on macroeconomic regulation are different.It is of great significance to rationally construct a macroeconomic regulatory framework system.Through the literature analysis of the“single”and“mixed”rules,“reducing leverage”and“stabilizing leverage”of monetary policy,it is found that there are several regulatory consensuses,such as mixed rules,expectation management,and coordination of economic policies.However,there also exist some problems such as evaluation indicators,lack of micro-subject expectations,and insufficient consideration of the interaction effects of economic policies.Theoretical and academic circles should take evaluation indicators of monetary policy regulation,expectation management,and interaction effects of economic policies as the main research directions and analysis focuses.

关 键 词：货币政策 数量型工具 价格型工具 政策目标 

分 类 号：F822.0[经济管理—财政学]