Study on Monetary Policy Rules in the Paradigm of Behavioral Economics

Abstract

20世纪70年代以来关于货币政策规则的理论研究,取得的成果主要可以概括为两点:一是大部分经济学家认为在货币政策操作中,规则优于相机抉择;二是在具体规则中比较推崇通货膨胀目标制与泰勒规则。20世纪80年代以来,包括美联储在内的许多国家的央行开始按上述理论来操作本国的货币政策,并取得了很好的效果,但美国次级债危机的爆发使上述理论受到了严峻挑战,一些学者对格林斯潘时期的美联储货币政策进行了批判。有些经济学家认为这些货币政策规则理论之所以在实践中遇到困难,主要在于它们建立在刚性的理性人基础上,与现实有一定的差距。相反,在行为经济学范式下以异质社会人的假设为基础研究货币政策规则可能会对实际货币政策操作更...Since 1970’s, the main achievements as for the theory of monetary policy rule are summarized as two aspects. On the one hand, most economists consider that monetary policy rule is better than discretion .On the other hand , they think that inflating targeting and Taylor rule are Superior to other rules. From 20th century 80's, including the Federal Reserve more and more central banks began to oper...学位:经济学博士院系专业:经济学院金融系_金融学(含保险学)学号:1562006015306

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