关于货币政策长期利率目标制研究

A Study on monetary policy long-term interest rate targets

央行直接调节长期利率是救助此次国际金融危机的重要手段。文章综合实务界和理论界观点，分析常规货币政策框架和非常规货币政策框架下，中央银行调节长期利率的不同机制和效果；在此基础上，对央行能否将长期利率调节作为常规货币政策工具的相关研究进展进行综述和评析。

Central bank＇s direct adjustment of long-term interest rate has become an important means to cope with the financial crisis. With a comprehensive review, this article explores the different mechanism and effects of the long-term interest rate adjustment under the unconventional and conventional monetary policy frameworks. It then summarizes the research on whether the central bank can use long-term interest rate adjustment as a conventional monetary policy instrument.