| 特里芬两难的辨析 |
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| 引用本文： | 曾辉,李一,周心鹏. 特里芬两难的辨析[J]. 国际金融研究, 2009, 0(12) |
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| 作者姓名： | 曾辉 李一 周心鹏 |
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| 作者单位： | 中国人民银行研究生部;华夏基金管理公司; |
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| 摘 要： | 通过理论推导和实证分析,本文依次从可兑换性与流动性的关系、国际收支与流动性的关系,以及关键货币国家货币政策目标定位三个角度分析了特里芬两难,结论是特里芬两难并不成立。这意味着,现行国际货币体系并不存在根本性矛盾,经过较大改进后仍然可能在相当长的时期内存在;美国经常账户赤字的根本原因是其国内经济失衡,美国对由此导致的国际经济失衡应负主要责任。
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| 关 键 词： | 特里芬两难 可兑换性 国际收支 |
The Paradox of Triffin Dilemma |
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| Zeng Hui Li Yi Zhou Xinpeng. The Paradox of Triffin Dilemma[J]. Studies of International Finance, 2009, 0(12) |
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| Authors: | Zeng Hui Li Yi Zhou Xinpeng |
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| Affiliation: | Zeng Hui Li Yi Zhou Xinpeng |
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| Abstract: | Through theoretical and empirical analysis,this paper investigates the relations between convertibility and liquidity supply,the relations between balance of payments and liquidity supply,as well as the monetary policy targets of the key currency country.The primary conclusion is that Triffin Dilemma does not hold,which means that the existing international monetary system will probably persist in the foreseeable future and the U.S.A.is responsible for global economic imbalance. |
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| Keywords: | Triffin Dilemma Convertibility Balance of Payments |
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