摘要
在后次贷危机时期,人民币对外升值、对内贬值、内外扭曲失衡,人民币货币政策存在着明显的非均衡性效应、非对称效应等干扰因素,使得人民币的独立性、汇率市场化改革、资本流动等并未能实现原先预定的目标。通过对货币工具等进行分析表明:我国独立的人民币货币政策难以应对国内外价值扭曲失衡的实际情况,人民币陷入了"三角悖论"困境,央行的货币政策目标和工具存在冲突,在实施效果上存在失效性可能。
In the context of the post-subprime crisis period,the distortion and imbalance of external appreciation of CNY and the devaluation of internal transactions,the CNY monetary policy has obvious non-equilibrium effect, asymmetric effect and other interference factors, making its independence,the reform of marketization of exchange rate,capital flows and other issues fail to achieve the original target. Based on the analysis of the monetary instruments and other aspects,it shows that the independent CNY monetary policy is difficult to deal with the distortion and imbalanceof domestic and foreign value,and the CNY gets into the ＂triangular paradox＂predicament; besides,the objectives and tools of the central bank＇s monetary policy exist conflicts,and the implementation effect may carry forward the possibility of failure.
作者
鲜京宸
刘庆
毛卫兵
XIAN Jingchen LIU Qing MAO Weibing(Research Center for International Business and Enconomy, Sichuan International Studies University, Chongqing 400031, China Exchange of Chongqing Agricultural and Animal Products, Chongqing 400010,)
出处
《重庆理工大学学报（社会科学）》
CAS
2017年第8期44-55,共12页
Journal of Chongqing University of Technology（Social Science）
关键词
非均衡性
非对称效应
三角困境
无效命题
non-equilibrium
asymmetric effect
triangle paradox
invalid proposition
