支付体系与货币和货币政策基本关系研究

A Study on the Relationship Between Payment System and Currency and Monetary Policy

中央银行承担着货币政策和向社会提供结算便利等金融服务的职责。近几年现代化支付体系的建设使用对货币问题产生了一定的影响,支付体系与货币和货币政策的关系引起了普遍的关注。本文在辨析既有讨论的基础上,从基本的概念出发,为研究支付体系与货币和货币政策的关系搭建了一个基本框架。本文认为,支付体系对货币的影响是实质的,对货币政策的影响却是外在的,但这种外在影响是重要的,需要中央银行在调整货币供给模型时加以慎重考虑。

The Central Bank undertakes the duties of making monetary policy and providing convenient financial service. In recent years, the establishment and application of modern payment system have made certain effects on currency issue, and the relationship among payment system, currency and monetary policy has aroused widespread concern. On the basis of present discussions, a basic framework is built to study the relationship between payment system and monetary policy. It concludes that the payment system has substantive influence on currency, and its influence on monetary policy is external and crucial, so it should be should given careful consideration in adjusting currency supply model by the Central Bank.