量化宽松政策的溢出效应分析

本文探讨了与美联储及其货币政策相关的四个问题,包括量化宽松政策对新兴市场国家的影响、美联储在为国际金融市场提供流动性方面的作用、量化宽松政策与货币操纵以及国际贸易与国际资本管制等,并提出新兴市场国家应通过政策调整应对量化宽松政策、增加对国际货币基金组织的资金投入及推动双边投资和自由贸易谈判等政策建议。

This paper discusses four issues related with Fed and its monetary policies, including the influence of quantitative easing on emerging markets, the role of Fed in providing liquidity for the international financial market, the relationship between quantitative easing and currency manipulation and that between international trade and interna- tional capital control. And this paper proposes policy suggestions that emerging markets should cope with quantitative easing through policy adjustment, increase the capital injection into IMF and promote bilateral investment and free trade talk.