开放经济中货币政策中介目标的选择

The option of medium goal of monetary policy in an open economy

与封闭经济相比 ,开放经济下的中央银行不仅需要关注国内经济的内部均衡 ,同时也必须重视对外经济部门的收支平衡。中央银行最终目标的调整要求我们对传导央行货币政策意图的中介目标———货币供给量或利率进行重新审视 ;此外 ,国际金融市场一体化的迅速发展也使我们必须对原有中介目标对抗外部货币冲击的能力作一检验和比较 ,以选择一个更好的中介目标。

Diffrent from that in a closed economy,the central bank in an open economy concerns not only the internal balance of domestic economy,but the balance of revenue and payment in foreign economical department,the central bank has adjusted it ultimate goal.thus require us to view a new medium goal-money supply or interest rate which serves as the indicator of the central bank monetary policy;besides,the rapid integration of international finantial markets urges us to examine and compare the strengths of our present medium goal to resist the external monetary lash,so that a better goal could be selected.