【摘要】 货币政策最终目标(即宏观经济目标)是一个整体的、长期的和非量化的目标,只能为中央银行制定具体政策提供指导性原则.中央银行要实现最终目标,就必须掌握有关最终目标的信息,并据此操纵相应的货币工具.从实际的经济数据出发,从当前经济金融运行的现状、特别是金融市场发展的程度着手,定性、定量地分析了基础货币和货币乘数的可控性.尽管存在着结构性和体制方面的制约因素,但目前这两个因素还是可以被中央银行控制的,只不过要提高它们的作用,仍然任重道远,而其中最关键的还是货币市场的发展.更多还原

【Abstract】 The final goal of monetary policy (i.e., macro-economical objective) is a total, long-time and non-quantitative one, and can only provide guiding principle for the central bank to make the detailed (policies.) To achieve the final goal, the central bank must grasp the information about it, and control the corresponding monetary tools. This essay gave the qualitative & quantitative analysis of the controllability of the basic currency and the monetary multiplier with the true economical data and the status in quo of the economic and finance, emphasizing particularly on the growth extent of the monetary market. Although there are some structural & systematic restrictions, the two main factors can still be controlled by the (central) bank. To improve them is still a hard job, and the most important key is to develop the (monetary) market.更多还原