泰勒规则与我国货币政策选择的思考

随着金融创新和金融自由化的不断发展,许多国家开始放弃将货币供给量作为中介目标,而改使用泰勒规则作为指导货币政策制定与实施的首选目标。由于我国市场经济的发展状况,以及经济制度等方面的特殊性,我国目前的具体情况并不适合采用泰勒规则。现阶段我国要采取的策略应该是:改善宏观经济环境,建立统一、开放、高效、有序的金融市场,提高利率管理水平,健全金融监管体系,运用金融工程管理技术,进行金融衍生产品的交易管理和风险控制,提高长、短期利率变动趋势的预测能力,根据对各种经济变量的预测分析,调整银行资产负债结构,缩小风险缺口或增加高收益资产的持有比例以回避利率风险,获得更高的收益。

Taylor Rule and Thoughts on choice of Chinese Monetary Policy

With the development of financial innovation and liberalization,many countries stop taking money supply as intermediate target,and begin taking Taylor Rule as the first target to guide the establishment and implementation of monetary policy.Due to the development situation of Chinese market economy and the particularity of economic systems,it is unfit for our national situation to take Taylor Rule.We should employ the following strategies in current situation: improving macro economic environment,building u...