货币学派与理性预期学派的货币政策理论比较

A Comparative of Monetary Policy between Monetarism and Rational Expectation School

货币学派与理性预期学派是当代新经济自由主义中的两个重要分支,两者都极力反对国家干预主义及其政策,倡导市场机制和经济自由主义。在经济政策尤其是货币政策的导向、中介指标选择及其比例确定方面存在着共通之处,但在预期假设、货币态度和对货币供应量的调节等方面存在着许多差异。对两个学派货币政策的异同进行研究,有助于加深我们对现代货币政策的理解,亦可对我国货币政策的实施和运用寻求可资借鉴的启示。

Monetarism and rational expectation school are two important branches of contemporary new economic liberalism. They are strongly opposed to state interventionism and its policy, and advocate market mechanisms and e-conomic liberalism. They are in common in economic policy, especially in monetary policy orientation, intermediate target selection and proportion of monetary policy, but are different in expectation hypothesis, money attitude and reg-ulation of the money supply. Study on the similarities and differences between their monetary policies will deepen our understanding of modern monetary policy and provide revelation for the implementation of monetary policy in China.