危机管理中美联储货币政策工具创新对我国的启示

为缓解本次危机对金融市场和实体经济的冲击,以美联储为代表的各主要央行推出大量以信贷宽松或数量宽松为特点的非常规货币政策,对危机中受损的常规货币政策传导渠道进行弥补,加强了各国央行的合作力度,有效缓解了危机带来的负面冲击。本文将集中研究美联储的货币政策工具的特点、效果,并总结对我国的启示,这也将有助于我国深入理解美联储即将采用的第二轮量化宽松货币政策的本质。

The Inspiration of Fed' s Monetary Policy Instruments Innovation in Crisis Management

To ease the damage to financial markets and real economy, the major central banks represented by the Fed take a large number of quantitative easing measures and credit easing measures characterized by unconventional monetary policy as the crisis management measures, to compensate the monetary policy transmission channels damaged by the crisis, reinforce collaboration among central banks of different nations, and effectively reduce negative damages caused by the crisis. Therefore, this paper will focus on th...