美国量化宽松政策的溢出效应及对中国的影响

American quantitative easing monetary policy's spillover effect and its influence on China

次贷危机爆发后,美联储为促进经济复苏,采取了扩张性财政政策和货币政策及非常规的量化宽松政策,向经济注入大量的流动性。现行的国际货币体系是以美元为主导的国际货币体系,美元作为国家货币充当国际货币使得位于中心的美国获得了铸币税,而其它国家则更多地承担了通货膨胀和金融危机的成本。当前美国量化宽松货币政策的溢出效应对中国的影响包括通货膨胀、人民币升值压力和外汇储备的损失。

The Federal Reserve has been taken expansive fiscal policy and monetary policy and Quantitative Easing Policy to stimulate economic growth during the current financial crisis,which result in a large amount of liquidity in the economy.As the current international monetary system is essentially a dollar dominant system,the United States obtain a huge number of seigniorage,but other countries bear the costs of inflation and financial crisis.The United States＇s Quantitative Easing Policy has been great influence on China,including inflation,the pressure of RMB appreciation and the loss of foreign exchange reserves.