后金融危机时期中国货币政策选择——基于美国QE2经济后果的分析

"二次量化宽松政策"(简称QE2)是美联储在国内经济提振乏力、失业率居高不下以及世界经济复苏不平衡的背景下启动的。QE2或许能够使美国走出通缩的泥潭,也有可能催生资产泡沫,酝酿新的金融危机,但却无疑给世界经济,尤其是新兴市场国家的经济继续复苏蒙上了一层阴影,全球热钱将更加泛滥,世界经济秩序将遭到破坏,各国外汇储备将进一步缩水等。对此,我国中央银行货币政策必须加强与财政政策的配合,适时调整外汇储备资产结构,扩大本币结算合作,积极应对QE2的挑战。

The Monetary Policy Choice of China during the Post-crisis Period——Analysis of the Effects of U.S.QE2

Quantitative Easing two is being implemented by the Fed under the context of American domestic economic re-cession,high unemployment rate and imbalanced international economy recovery.QE2 might pull American economy out of the deflation,or cause asset booms,leading to a new financial crisis.Undoubtedly this policy will negatively affect the sustainable international economy recovery,especially for the emerging economies,with the result of more hot money all over the world,the destroyed international economy...