全新视角下的稳健货币政策研究

A Research on the Prudent Monetary Policy from a New View

2006年,我国货币政策的主基调依然是稳健货币政策。虽然,我国目前的经济环境只能部分满足固定汇率制下的模型(经典M-F模型)所假设的条件,但稳健货币政策的实施应当是有一定效果的。在经济增长速度高于预期、国际收支不平衡状况带来负面影响、社会资金流动性过于宽松的新形势下,应进一步拓展稳健货币政策新机制,不断提高稳健货币政策内外平衡的主动性,合理调整要素价格,积极创造稳健货币政策的转化条件。

This year, the keynote of China＇s monetary policy is still a prudent monetary policy. Although, current economic environment in China can partially satisfy the supposing condition of the model （classic M - - F model） under fixed rate of exchange system, it is certain to have good effect to execute prudent monetary policy. In the new situation that economy increase speed is higher than expected, unbalance of payments has brought negative influence, and social fund liquidity too loose, it＇s compulsory to expand further a new monetary policy mechanism steadily to accelerating the initiative of the inside and outside equilibrium of prudent monetary policy, making reasonable adjustments of factor prices, creating actively the conversion term of the prudent monetary policy.