汇率目标区在外汇干预中的作用分析

Analysis of Exchange Rate Target Zone in Foreign Exchange Intervention

通过分析克鲁格曼汇率目标区理论模型及其扩展模型,给出了汇率与影响其波动的基本变量之间的非线性关系,发现汇率目标区管理可以稳定汇率,并有效地协调货币政策目标和汇率政策目标。

Monetary authorities exerted intervention in the foreign exchange market in order to ease undesired fluctuation of the exchange rate. The central bank in China needs to intervene in the foreign exchange market to prevent the exchange rate from violent fluctuation.