| | | | | 中央银行货币政策工具变化评析 | | | 张翠微 | | | 近年来,在全球经济一体化进程快速发展的背景下,以美国为代表的发达国家受次级抵押贷款危机影响,金融机构面临短期流动性不足的问题;以中国、韩国和印度为代表的新兴市场国家则出现流动性过剩的状况。为应对经济金融领域不断出现的新情况、新问题,保持中央银行货币政策的主动性和有效性,发达国家在充分运用传统货币政策工具的同时,适时引入了新的投放流动性的工具;新兴市场国家则不断拓展收回流动性的工具组合。本文简要分析了近来各国央行调整货币政策工具的背景情况,全面总结了发达国家及新兴市场国家货币政策工具变化的基本特点,并提出了央行货币政策工具调整中值得关注的问题。
【作者单位】：中国人民银行货币政策司
【关键词】：中央银行;货币政策工具
【分类号】：F822
【DOI】：CNKI:SUN:GJJR.0.2008-04-012
【正文快照】：
一、背景情况目前多数国家央行均以稳定本国币值为首要目标，并以此促进经济增长、就业及国际收支目标的实现。根据不同的经济金融状况选择适当的货币政策工具是中央银行实现货币政策目标的重要保障。总体上看，近年来各国央行货币政策工具变化是在全球经济金融一体化的背景下 | | |  推荐 CAJ下载  PDF下载 | | | CAJViewer7.0阅读器支持所有CNKI文件格式，AdobeReader仅支持PDF格式 | | | | Comments on New Monetary Policy Instruments Adopted by Central Banks | | | Zhang Cuiwei | | | Against the backdrop of speeding-up of economic globalization,the United States,among other developed countries,suffered the sub-prime crisis,is confronting with liquidity deficit in the banking system;while some emerging market countries,such as China,India and Korea,have been irritated by liquidity surplus in recent years.To tackle these problems and promote effectiveness of monetary policy,central banks in the developed countries inject liquidity to the market by using traditional monetary tools as well as introducing new instrument;meanwhile,central banks in the emerging markets are engaged in improving monetary tools to withdraw liquidity.This paper briefly analyses the circumstance regarding the adjustment of monetary tools,sums up the fundamental characteristics of monetary tools that both developed countries and emerging economies use,and points out some problems worthy of attaching importance to.
【Keyword】：Central Banks;Monetary Policy Instruments |
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