【摘要】 附加预期泰勒规则内含通胀预期因素,通过该规则行事,可以提高货币政策透明度、可信性和有效性,从而起到稳定公众通胀预期的作用。中国人民银行虽然没有明确提出按照附加预期泰勒规则行事,但多项实证研究表明,附加预期泰勒规则是可以很好拟合我国货币政策操作的。本文阐明了附加预期泰勒规则的含义,回顾不同学者对附加预期泰勒规则的实证检验结论,探究附加预期泰勒规则对通胀预期的作用机制,总结附加预期泰勒规则货币政策实践需要注意的问题,最后提出附加预期泰勒规则对我国通胀预期管理的启示。更多还原

【Abstract】 Taylor rule containing inflation expectations factors,and it can improve transparency,credibility and validity of monetary policy,thus play a stabilizing role of public inflation expectations.Although People’s Bank of China did not announce the expectation augmented Taylor rule in the monetary policy formulation,a number of empirical studies have shown that expectation augmented Taylor rule can be expected to approximate China’s monetary policy operation.This paper illustrates the meaning of expectation augmented Taylor rule,reviews the different conclusions of the empirical studies on expectation augmented Taylor rule,explores the mechanism from expectation augmented Taylor rule to inflation expectations,sums up practice problems that operating expectation augmented Taylor rule may encounter,and finally proposes enlightenments for China’s inflation expectation management.更多还原