开放条件下中、美货币政策博弈分析

货币政策和国际合作一直以来都是经济学界研究的重要内容,本文根据2002年Obstfeld和Rogoff的文章所得出的结论来分析中、美之间货币政策的问题。参考其结论货币政策的合作虽然能够在一定程度上给双方带来一定的好处,但是国内经济的稳定性会下降,由此会大大降低本国的福利水平。中国是一个经济大国,不应该与美国进行货币政策合作。虽然与美国的货币政策合作会在一定程度上提高中国的福利,但是中国货币政策会丧失独立性,由此会在很大程度上降低本国的福利。

Analysis of China and America currency policy under opening condition

Monetary policy and international cooperation is always a important part of economical research.This paper studies the games of monetary policybetween China and America based the conclusion of Obstfeld’s paper which is republished in 2002.The conclusion which is draw on the basis of new open economymacroeconomics stochastic model tells us that bothcountries can benefit some from the cooperation,butits national economy may suffer great loss.China is alarge country and we conclude that it’s not suitable forChina to cooperate with America in the implementationof monetary policy.Although can benefit some from thecooperation,the loss is more.