货币政策与宏观审慎政策协调研究——基于目标和工具的角度

On the Coordination of Monetary Policy and Macro-prudential Policy —— Based on Targets and Tools

全球金融危机之后,微观审慎政策的缺陷暴露,各国金融监管当局和学者逐渐对宏观审慎政策高度重视。本文在相关研究基础上,分析了货币政策与宏观审慎政策的协调配合,用理论结合实证分析方法研究了两种政策工具可能对其交叉目标产生的影响,得出货币政策与宏观审慎政策之间可以相互协调的结论,并提出了相关建议。

After the global financial crisis,the defects of micro-prudential policy have been exposed,and financial regulatory authorities and economists in various countries have gradually attached great importance to macro-prudential policy.Based on the research of many scholars,the paper analyzes the coordination and cooperation between monetary policy and macro-prudential policy,and theoretically studies the possible impact of the two policy tools on their cross-objectives combined with empirical analysis methods.It is concluded that monetary policy and macro-prudential policy can be coordinated with each other.Therefore,relevant suggestions are put forward.