论开放经济下的汇率政策和货币政策协调方法（on exchange rate policy and monetary policy coordination under open economy）

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1、论开放经济下的汇率政策和货币政策协调方法（Onexchangeratepolicyandmonetarypolicycoordinationunderopeneconomy）OnexchangeratepolicyandmonetarypolicycoordinationunderopeneconomyKeywords:exchangeratepolicy;monetarypolicy;coordinationSincethereformofforeignexchangesystemin1994,monetarypolicyandexchangeratepolicyhav

2、ebeenissuedinChinaThreeconflictshavehadagreatimpactonournationaleconomy.ItistheseconflictsthathavetriggeredusThecoordinationofmonetarypolicyandexchangeratepolicy.ThefocusofmonetarypolicyandexchangeratepolicyisinterestrateAndthereformoftheexchangeratemechanismandtheinteractionbetweentheman

3、dothersupportingmeasures.Inthispaper,ourcountry'smonetarypolicyShortandmediumtermcoordinationprogrammeswithexchangeratepoliciesandmeasurestoachievelong-termcoordinationshouldbeproposedDiscussion.WiththefurthercommitmentofChina'saccessiontotheWTO,China'scapitalaccountwillbefurtherpromotedA

4、tpresent,thecurrentpolicymechanismwillalsofacenewchallengesfrominternationalcapitalflows.ThemodeloffinancialdevelopmentinChinaMonetarypolicywillbeindependentfromthecurrent"monetarypolicyindependence+exchangeratestability+capitalcontrol"to"monetarypolicyindependence+capital.""Freefloating+

5、floatingexchangerate"change.Internalandexternalimbalancesariseinavarietyofways,Anditwillconcentrateontheconflictandcoordinationbetweenexchangeratepolicyandmonetarypolicy.I.short-termcoordinationprogrammes(I)stabilizingtheexchangerate;Improvingtheexchangerateisalong-termpolicy,itsimpactone

6、conomicgrowthiscomprehensiveandfar-reaching.1,stabilizetheRMBappreciationexpectationsIftheRMBexchangeratefluctuatessubstantially,itwillbringabigimpactonfinancialstability,notinlinewithourcountryFundamentalinterests.Atpresent,thecoreobjectiveofChina'smonetarypolicyshouldbealleviatedunderth

7、epremiseofstabilizingthevalueoftheRMBAppreciationpressure.Ifthemarketisexpectedtorisetoohigh,alargenumberofspeculativehotmoneyinflows,itwillguideitselfAppreciationpressure.Therefore,wemuststabilizethevalueofthecurrencyandreducethemarketimagination.Ifasubstantialincr