金融危机时期中美货币政策的比较

Monetary Policy during the Global Financial Crisis-Comparison between China and the U.S.

在全球金融危机爆发后,中美两国都采取了超常扩张性的货币政策,但其首要政策目标、政策工具、传导过程、政策有效性和政策风险有较大差异。本文通过分析和比较其异同及成因,旨在总结两国实施货币政策的经验和教训,为提高我国货币政策应对危机的有效性、防范来自内部和外部的政策风险提供借鉴。

After the global financial crisis broke out, both the U. S. and China have implemented extraordinary monetary policy, however, their primary monetary policy goal, tools, conduct process, effectiveness and risks are quite different. The paper aims to draw experiences and lessons of both countries by analyzing and comparing the similarities and the differences, as well as the reasons, in order to provide reference on improving the effectiveness of Chinese monetary policy in fighting a crisis, and preventing the policy risks from domestic and abroad.