论双向调节货币政策的选择

On the Choice of Two—Way Adjustment about the Monetary Policy

作者通过对我国目前货币政策调控方式弊病的分析,提出一种间接的、双向的供求调节的货币政策模式。该模式的特点是:金融市场是货币政策运作的中介,利率是调节的重要手段,既调节货币的供给面,也调节货币的需求面,货币政策调节金融市场的需求,金融市场和利率引导货币需求。作者认为这种调节方式备有软刹车装置,可以避免急刹车式的一刀切带来的负作用。

The auther analyses the erils of the fashion of the adjustment andcontrol(?)in the monetary policy of China at present,supposes an inder—ect,two—way and adjustmental pattern of the monetary policy.the characteristics are the following:the finacial markets are theinter mediary in the movement of the monetary policy;the intere-sts are the important measure of the adjustment,adjusting the supp-ly of money as well as the demand of it;the monetary policy adj-ust the demand of the finacial markets;the finacial markets and inte-rests draw the demand of money,The author thinks that this adjust-mental way has the set of brake which could avoid the negative fuc-tions of cutting of one knife。