摘要
始于2007年的次贷危机在美国纵深发展并波及全世界,不同于20世纪30年代大萧条时期货币当局的反应,美联储迅速采取全方位、创新式、深层次的货币政策对金融市场和大型金融机构进行援助,分别采用了TAF、TSLF、PDCF、AMLF、CPFF、MMIFF等新型政策工具,有针对性地增加市场流动性,借助未来的通货膨胀来转移美国的债务负担,在全球树立了统一行动和政策协调的典范。借鉴美国经验,未来中国要以新视角和创新工具来应对金融的不稳定。
In 2007, the subprime crisis occurred in the United States and spread to the whole world. Different from the actions taken in the Great Depression in the 20th century during 30 years, the Fed Reserve took prompt, comprehensive, innovative and deep monetal7 policy to restore the confidence in the financial markets and save large financial institutions. TAF, TSLF, PDCF, AMLF, CPFF, MMIFF and other new types of policy instruments which is targeted to increase market liquidity, with inflation in the future to transfer the debt burden of the United States, have set up a model of action and policy co-ordination in the world. China should address the future issues with innovative tools to deal with financial instability.
出处
《南方金融》
北大核心
2010年第9期32-38,47,共8页
South China Finance
基金
国家社会科学基金青年项目(项目编号:10CJL017)
教育部人文社科规划基金一般项目(项目编号:08JA790025)的资助
关键词
货币政策
创新
创造性毁灭
货币操纵
Monetary Policy
Creativity
Creative Destruction
Currency Manipulation