Oil Price Shocks: Macroeconomic Influence and the Adjustment of Monetary Policy


20世纪的两次石油危机对世界经济造成了巨大的负面影响。其间,作为宏观调控主要手段的货币政策并没有发挥应有的作用,其原因主要来自两个方面:第一,货币当局对货币政策作用的认识不清晰;第二,对货币政策规则的研究相对滞后。近二十年来,货币经济学及货币政策分析的一个重要突破出现在对货币政策规则的研究上。Barro和Gordon(1983)构造的货币政策博弈模型表明,遵循规则的货币政策操作从长期来看能产生比相机抉择更好的结果。尽管遵循规则是对货币当局的一种约束,但这种约束使货币政策建立了一种承诺机制,从而可以避免货币政策的短视和机会主义倾向,提高社会的福利水平。另一方面,以前瞻性预期和价格粘性为基本特征的...In 20th century two oil crises caused great loss to the world. However, the monetary policy did not play its role as one of the main macro-control means at that time. It can be attributed to two reasons. One is that the money authorities didn’t understand the role of monetary policy well. The other is that researches on monetary policy rules relatively lagged behind. In recent 20 years an importan...学位:经济学博士院系专业:经济学院财政金融系_金融工程学号:B20044202

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oaioai:dspace.xmu.edu.cn:2288/40641Last time updated on 6/16/2016View original full text link

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