摘要
本文认为,当前的扩张性货币政策无法解决经济增长方式调整滞后和收入分配失衡等深层次矛盾,并蕴含着财政风险、金融风险与政策信誉风险,这决定了其退出的必然性。从就业、消费和民间投资三个指标来看,扩张性货币政策已逼近安全边界;在时机选择上,我国应先于欧美发达国家实施退出策略;在力度控制上,不仅要考虑经济数据,也要考虑集团利益的制衡;在工具选择上,应结合国情,有计划、有步骤地实施退出策略。另外,应注重与转变经济增长方式、财政刺激计划的退出及国际协调的配合。
The current ultra-loose monetary policy can not solve the deep-seated contradictions, such as the delay in the adjustment of economic growth and imbalances in income distribution, but implies financial risk, fiscal risk and credit risk on policy, which determines the necessity of its withdrawal. From three indicators, such as employment, consumption and private investment, extremely loose monetary policy has been approaching to the secure borders; in terms of timing choice, China should implement withdrawal strategy earlier than deve.loped countries in Europe and America; in terms of intensity of controlling, China should not only consider the economic data, but also consider balances of group interests; in terms of tools for selecting, withdrawal strategy should be implemented in plan, with the consideration of national conditions. In addition, it should be assorted with the transformation of economic growth, withdrawal of fiscal stimulus plan and international coordination.
出处
《中国流通经济》
CSSCI
北大核心
2010年第2期77-80,共4页
China Business and Market
基金
国家社科重大项目"扩大国内需求的宏观经济政策研究"(项目编号:08&ZD034)
教育部人文社科重点研究基地重大项目"我国货币政策的区域经济效应研究"(项目编号:08JJD790136)的阶段性成果
关键词
扩张性货币政策
退出
时机选择
力度控制
工具选择
expansionary monetary policy
withdrawal
timing choice
intensity of controlling
tools for selecting
