我国外汇储备中黄金配置问题研究

随着中国外汇储备规模的激增,中国外汇储备的结构矛盾突现,作为储备资产之一的黄金的合理配置,引起了人们的关注。本文根据黄金的货币属性和实物属性,分别基于储备功能和对冲作用分析了黄金配置问题。研究表明,基于储备功能的黄金储备占外汇储备的合理比重为5.87%,基于对冲作用本文提出依据PI指数来配置黄金。

On Allocation of Gold in China's Foreign Exchange Reserve

With the surge in China's foreign exchange reserve,the structural conflict of China's foreign exchange reserve emerged.The allocation of gold,which is one of the reserve assets,has aroused people's attention.According to gold's currency property and physical property,the paper analyzes the allocation of gold based on gold's function of reserve and hedging respectively.Studies have shown that gold reserve in foreign exchange reserve exerting reserve function accounts for 5.87%.Based on hedging function,the p...