我国货币政策的社会就业效应

The Employment Effect of China's Monetary Policy

货币政策工具无论是流通中现金量还是社会信贷余额都对社会就业具有积极的促进作用,而且这一作用具有较强的持续性。在经济增长带来的社会就业有限的前提下,政府可以考虑使用货币政策缓解日益严峻的就业形势。社会信贷余额的社会就业效应要大于流通中现金量,因此,当政府考虑使用货币政策来缓解社会就业时,相对于流通中现金量,可以优先考虑使用社会信贷余额这一货币政策工具。

The instrument of monetary policy,the narrow money and social credit balance,can impose a positive and sustainable influence on social employment.Under the precondition of limited social employment brought by economic growth,the government should consider to reduce pressure on social employment with the help of monetary policy.The employment effect of social credit is greater than that of narrow money;so,while considering reducing the pressure on employment with the help of monetary policy,the government should give top priority to social credit.