通货膨胀目标制的模式及作用机制浅探

On the Modes and Function Mechanism of Inflation Targeting Regime

通货膨胀目标制是20世纪90年代兴起的一种新的货币政策框架,目前已经在不同地区、不同类型的国家中得到了广泛的应用,并取得良好的效果。通货膨胀这一经济现象是无法完全消灭的,而其失控会不可避免的对经济各方面造成不良的影响。通胀目标制不同于其他货币制度之处就在于它是在通货膨胀失控之前就采取有效措施来预防,而不是每次都等到损害已经造成后再补救。因此,对通货膨胀目标制的定义、模式、作用机制及政策效果进行分析就很有必要,它为中国的货币政策改革提供了一种选择。

As a newly emerging monetary policy framework since 1990s, inflation targeting regime has been receiving wide implementation among various regions and countries, and has gained significant effect. It is widely accepted that inflation is an unavoidable phenomenon and it will cause inevitable economic losses while being out of control. Inflation regime is such a monetary system which takes actions in advance to prevent inflation from going disordered rather than make it up after the losses being made. Thus a thorough study on the definition, modes, function mechanism and treatment effect of inflation targeting regime becomes very necessary. It＇s also believed that inflation targeting regime is a good option for China in the future.