| 信贷机制、货币乘数与货币政策有效性研究 |
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| 引用本文： | 陆跃祥,唐洋军.信贷机制、货币乘数与货币政策有效性研究[J].中国流通经济,2006,20(11). |
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| 作者姓名： | 陆跃祥 唐洋军 |
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| 作者单位： | 北京师范大学经济与工商管理学院,北京市,100875 |
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| 摘 要： | 本文在蒙代尔—弗莱明的分析框架下引入商业银行信贷机制,来考察固定汇率制下小型开放经济体货币政策的有效性问题,发现货币政策可以作为稳定经济的工具。文章指出,实行固定汇率制度的小型开放经济体,其货币政策具有一定的独立性,可以对实际产出产生一定的作用;不同的货币政策工具对实际产出发生作用的传导机制不同,从而导致效果不同,因此货币当局在对宏观经济进行调节时必须选择适当的货币政策工具。
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| 关 键 词： | 信贷机制 货币乘数 货币政策 有效性 |
Research on the Credit Mechanism, Monetary Multiplier and Availability of the Monetary Policy |
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| LU Yue-xiang,TANG Yang-jun.Research on the Credit Mechanism, Monetary Multiplier and Availability of the Monetary Policy[J].China Business and Market,2006,20(11). |
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| Authors: | LU Yue-xiang TANG Yang-jun |
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| Abstract: | The traditional theory considers the fixed exchange rate mechanism,the perfect capital flow and independent monetary policy incompatible.Based on the Mundell-Fleming model,the authors analyze the availability of the small open economy with fixed exchange rate mechanism by introducing commercial credit mechanism.The monetary policy of the small open economy with fixed exchange rate mechanism is independent and can affect the real output.Different monetary policy tool has different effect because of the different transmission mechanism to the real output.Therefore,the central bank should choose the most suitable monetary policy tools when adjusting the macro economy. |
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| Keywords: | small open economy monetary multiplier credit policy availability |
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