本文選題：美國(guó)貨幣政策　切入點(diǎn)：量化寬松　出處：《北京外國(guó)語(yǔ)大學(xué)》2017年碩士論文　論文類型：學(xué)位論文

【摘要】：2008世界金融危機(jī)是受美國(guó)次貸危機(jī)的直接影響而產(chǎn)生的,當(dāng)時(shí)美國(guó)很多金融機(jī)構(gòu)宣布破產(chǎn),市場(chǎng)流動(dòng)性不足,失業(yè)率上升。在危機(jī)爆發(fā)初期,美聯(lián)儲(chǔ)試圖通過零利率等傳統(tǒng)貨幣政策來挽救國(guó)內(nèi)經(jīng)濟(jì),但效果并不明顯。為了進(jìn)一步刺激經(jīng)濟(jì)復(fù)蘇,美聯(lián)儲(chǔ)選擇在2008年底推出了第一輪量化寬松政策,該政策至今共實(shí)施了四輪。經(jīng)濟(jì)全球化使得各國(guó)之間的經(jīng)濟(jì)依存度逐漸升高,美聯(lián)儲(chǔ)所實(shí)施的量化寬松政策存在的溢出效應(yīng)使得中國(guó)的匯率調(diào)整難度加大,加大中國(guó)通貨膨脹壓力,推高大宗商品價(jià)格以及影響到中國(guó)外匯資產(chǎn)的安全性和貨幣政策的獨(dú)立性。本研究通過分析美國(guó)量化寬松貨幣政策對(duì)中國(guó)的影響,具體探究造成溢出效應(yīng)的主要原因。當(dāng)美國(guó)取消這一政策時(shí)也必將對(duì)中國(guó)又一次造成影響,在文章最后則對(duì)這些影響進(jìn)行了具體闡述并結(jié)合具體問題提出了一些意見。本研究針對(duì)美國(guó)的量化寬松政策的理論內(nèi)涵進(jìn)行了具體闡述,結(jié)合經(jīng)濟(jì)學(xué)理論分析了美國(guó)量化寬松政策對(duì)中國(guó)貨幣政策造成溢出效應(yīng)的主要原因,通過本研究認(rèn)為:當(dāng)中國(guó)面對(duì)量化寬松的貨幣政策時(shí),應(yīng)該注重"內(nèi)外兼修",加強(qiáng)內(nèi)部平衡,控制國(guó)內(nèi)通脹,調(diào)整貿(mào)易結(jié)構(gòu),增加對(duì)國(guó)際資本流入的控制能力,平穩(wěn)推動(dòng)人民幣國(guó)際化進(jìn)程。
[Abstract]:The 2008 world financial crisis was directly affected by the subprime mortgage crisis in the United States, when many U.S. financial institutions declared bankruptcy, markets were illiquid and unemployment was rising. The Fed tried to save the domestic economy with traditional monetary policies such as zero interest rates, but the results were not obvious. In order to further stimulate the recovery, the Fed chose to launch its first round of quantitative easing in end of 2008. The policy has been implemented for four rounds. Economic globalization has gradually increased the degree of economic dependence among countries. The spillover effect of the quantitative easing policy implemented by the Federal Reserve has made it more difficult for China to adjust its exchange rate. Increasing inflationary pressure in China, pushing up commodity prices and affecting the security of China's foreign exchange assets and the independence of monetary policy. Specifically explore the main causes of spillover effects. When the United States cancels this policy, it will certainly have another impact on China. At the end of the article, the author elaborates these effects and puts forward some suggestions on the basis of the specific problems. This study is aimed at the theoretical connotation of the quantitative easing policy of the United States. Combined with the economic theory, this paper analyzes the main causes of the spillover effect of the quantitative easing policy on China's monetary policy, and points out that when China is facing the monetary policy of quantitative easing, We should pay attention to "internal and external repair", strengthen internal balance, control domestic inflation, adjust trade structure, increase the ability to control international capital inflow, and promote the internationalization of RMB smoothly.
【學(xué)位授予單位】：北京外國(guó)語(yǔ)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類號(hào)】：F827.12

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本文編號(hào)：1585276