本文選題：量化寬松 + 通貨膨脹�。� 參考：《吉林財(cái)經(jīng)大學(xué)》2014年碩士論文

【摘要】：2008年雷曼兄弟倒閉，，金融危機(jī)進(jìn)一步發(fā)酵，為刺激美國(guó)疲軟的經(jīng)濟(jì)、維護(hù)金融系統(tǒng)的穩(wěn)定，美聯(lián)儲(chǔ)推出多種非常規(guī)的貨幣政策工具向金融市場(chǎng)注入流動(dòng)性，既量化寬松的貨幣政策。從金融危機(jī)開(kāi)始，美國(guó)接連實(shí)施了四輪量化寬松貨幣政策。美國(guó)是中國(guó)的第二大貿(mào)易伙伴，兩國(guó)經(jīng)貿(mào)關(guān)系緊密，因此美國(guó)量化寬松貨幣政策必然會(huì)通過(guò)溢出效應(yīng)對(duì)中國(guó)經(jīng)濟(jì)產(chǎn)生影響。 本文以現(xiàn)有的理論為基礎(chǔ)，詳細(xì)的分析了2008年以來(lái)美聯(lián)儲(chǔ)四輪量化寬松貨幣政策對(duì)中國(guó)經(jīng)濟(jì)產(chǎn)生的影響。文章首先分析了美國(guó)量化寬松貨幣政策的實(shí)施背景，介紹了美國(guó)量化寬松貨幣政策的內(nèi)容并分析了實(shí)施效果。 本文著重從四個(gè)方面介紹了美國(guó)量化寬松貨幣政策對(duì)我國(guó)經(jīng)濟(jì)造成的影響。首先，美元是我國(guó)最主要的儲(chǔ)備貨幣，本文系統(tǒng)的分析了美國(guó)量化寬松貨幣政策對(duì)我國(guó)貨幣政策獨(dú)立性的影響及匯率政策的影響；第二，通過(guò)人民幣升值、大宗商品物價(jià)上漲及國(guó)際熱錢(qián)涌入等渠道分析對(duì)我國(guó)通貨膨脹的溢出效應(yīng)；第三，由于國(guó)際資本的逐利性，美國(guó)量化寬松貨幣政策會(huì)導(dǎo)致國(guó)際游資流入我國(guó)，因此分析了我國(guó)資本市場(chǎng)的產(chǎn)生影響；第四，分析了由美國(guó)量化寬松貨幣政策帶來(lái)的美元貶值對(duì)我國(guó)外匯資產(chǎn)安全性的影響。 本文的最后一部分針對(duì)美國(guó)量化寬松貨幣政策對(duì)中國(guó)經(jīng)濟(jì)造成的影響提出相應(yīng)的應(yīng)對(duì)策略，包括提高人民幣國(guó)際地位并加快人民幣國(guó)際化步伐，控制貨幣數(shù)量并加強(qiáng)物價(jià)監(jiān)管，加強(qiáng)熱錢(qián)監(jiān)管保持宏觀經(jīng)濟(jì)平穩(wěn)運(yùn)行，實(shí)現(xiàn)外匯儲(chǔ)備多元化并強(qiáng)化持有美元資產(chǎn)的“條件性”，建立國(guó)際政策協(xié)調(diào)機(jī)制并增加在國(guó)際貨幣體系中的“話語(yǔ)權(quán)”，以此來(lái)應(yīng)對(duì)美國(guó)量化寬松貨幣政策帶來(lái)的沖擊。
[Abstract]:With the collapse of Lehman Brothers in 2008 and the further ferment of the financial crisis, the Federal Reserve has introduced a variety of unconventional monetary policy instruments to inject liquidity into financial markets in order to stimulate the weak economy of the United States and maintain the stability of the financial system. Monetary policy with quantitative easing. From the beginning of the financial crisis, the United States has implemented four rounds of quantitative easing monetary policy. The United States is China's second largest trading partner, with close economic and trade ties between the two countries, so quantitative easing is bound to have an impact on China's economy through spillover effects. Based on the existing theories, this paper analyzes in detail the impact of the Federal Reserve's four rounds of quantitative easing (QE) on China's economy since 2008. This paper first analyzes the background of the quantitative easing monetary policy in the United States, introduces the content of the quantitative easing monetary policy in the United States and analyzes the effect of the implementation. This paper focuses on four aspects of the impact of quantitative easing monetary policy on China's economy. Firstly, the US dollar is the most important reserve currency in China. This paper systematically analyzes the influence of the quantitative easing monetary policy on the independence of monetary policy and the exchange rate policy of our country. Commodity price increases and international hot money inflows are used to analyze the spillover effects on China's inflation. Third, due to the profit-driven nature of international capital, the United States' quantitative easing monetary policy will lead to the inflow of international hot money into China. Therefore, this paper analyzes the influence of China's capital market. Fourthly, it analyzes the impact of the devaluation of the US dollar on the security of China's foreign exchange assets brought about by the quantitative easing monetary policy of the United States. In the last part of this paper, the author puts forward the corresponding countermeasures against the impact of the quantitative easing monetary policy on China's economy, including enhancing the international status of RMB and accelerating the pace of internationalization of RMB, controlling the quantity of money and strengthening price supervision. Strengthening the supervision of hot money to maintain the smooth operation of the macro economy, diversifying foreign exchange reserves, strengthening the "conditionality" of holding US dollar assets, establishing an international policy coordination mechanism, and increasing the "voice" in the international monetary system. In response to the impact of quantitative easing monetary policy in the United States.
【學(xué)位授予單位】：吉林財(cái)經(jīng)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類(lèi)號(hào)】：F124;F827.12

【參考文獻(xiàn)】

相關(guān)期刊論文 前10條

1 杜軍;;對(duì)日銀“定量寬松貨幣政策”的思考[J];當(dāng)代經(jīng)濟(jì)管理;2007年03期

2 朱民;邊衛(wèi)紅;;危機(jī)挑戰(zhàn)政府——全球金融危機(jī)中的政府救市措施批判[J];國(guó)際金融研究;2009年02期

3 張亦春;胡曉;;非常規(guī)貨幣政策探討及金融危機(jī)下的實(shí)踐[J];國(guó)際金融研究;2010年03期

4 王維安;徐瀅;;次貸危機(jī)中美聯(lián)儲(chǔ)非常規(guī)貨幣政策應(yīng)對(duì)、影響和效果[J];國(guó)際金融研究;2011年01期

5 金洪飛;萬(wàn)蘭蘭;張翅;;國(guó)際金融危機(jī)對(duì)中國(guó)出口貿(mào)易的影響[J];國(guó)際金融研究;2011年09期

6 傅勇;;全球復(fù)蘇分化、政策退出博弈與中國(guó)宏觀政策的選擇[J];國(guó)際經(jīng)濟(jì)評(píng)論;2010年03期

7 張禮卿;;量化寬松Ⅱ沖擊和中國(guó)的政策選擇[J];國(guó)際經(jīng)濟(jì)評(píng)論;2011年01期

8 丁志杰;謝峰;;美聯(lián)儲(chǔ)QE3的溢出效應(yīng)與應(yīng)對(duì)[J];國(guó)際貿(mào)易;2012年10期

9 陳華;汪洋;;中美經(jīng)濟(jì)刺激計(jì)劃政策工具比較及政策退出前瞻[J];金融會(huì)計(jì);2010年06期

10 謝懷筑;于李娜;;貨幣政策溢出效應(yīng)與國(guó)際協(xié)調(diào):一個(gè)文獻(xiàn)綜述[J];金融與經(jīng)濟(jì);2011年01期

本文編號(hào)：1922851