金融危机时期我国货币政策有效性分析-政治经济学专业论文.docxVIP

II II Abstract With the financial deepening and the degree of monetization of economy improving, the financial crisiss occurrences frequency accelerated. Since April 2007, the U.S. subprime mortgage crisis quickly turned into a global financial tsunami. Because of the financial crisis, Chinas exports dropped drastically and many factories have closed down, and the rate of unemployment increased,and the capacity of total supply was far greater than the demand. In the process of administing Financial crisis , people payed great attention to the central banks monetary policy, obviously, its important to research the way of improving the effectiveness of monetary policy during the financial crisis. Reviewing and analyzing the monetary policy and their effectiveness of 1930s US and 1990s Japan, we found that at the beginning of the financial crisis, the Government has no time to recapitalize financial institutions to increase the liqudity of financial market, and deal with their non-performing assets, those led to the lose of public confidence.And in the financial market, the efficiency of resources allocation reduced and the economy falled into a prolonged depression. Different exchange rate policy and new point of economic growth is the key to economic recovery. As the difference of economic system and marketization level existing, according to Chinas national conditions, the article analyzed the Asian financial crisis in modeling, and found that the effectiveness of monetary policy is uneffect by increasing the M2 to the model to promote the economic growth and the price hike; monetary policy transmission credit channels effect is obvious, loans on fixed assets investings have great impac, but the loans have little effect on prices; the interest rate channel of monetary policy produced little effect in the short term, but in the long term the effect is obvious. Analyzing the China’s effectiveness of monetary policy during the Asian financial crisis, and t