摘要
后金融危机时期,欧美量化宽松政策交替进行。当前中国经济已有进入通缩区间的趋向,而欧美量化宽松政策的交替势必成为加剧通缩演进态势的外部因素。相较于欧元,美元影响中国国内价格的渠道更多,特别是可以通过影响大宗商品价格导入通缩压力。未来必须要从完善人民币汇率形成机制、加强国际资本监管、推进人民币国际化、提高货币政策针对性以及稳定内需等层面多管齐下,积极应对输入性通缩对中国经济的挑战。
After the financial crisis,quantitative easing policy alternated Europe and America,China＇s deflationary pressure began to come. Compared with the Euro,the US dollar has more important influence on China＇s domestic prices,especially by importing deflationary pressure on commodity prices. In order to manage deflation,we need to improve the RMB exchange rate formation mechanism,strengthen the supervision of international capital,promote the internationalization of the RMB,increase monetary policy＇s pertinence,and stabilize domestic demand.
作者
张明
ZHANG Ming(School of Political Science and Public Management, Southwest University, Chongqing 400715, China)
出处
《经济体制改革》
CSSCI
北大核心
2018年第3期160-166,共7页
Reform of Economic System
基金
国家社会科学基金后期资助项目"开放经济条件下通货膨胀形成机制"(16FJY003)的阶段性研究成果
关键词
量化宽松政策
通货紧缩
人民币汇率
quantitative easing policy
deflation
RMB exchange rate
