【摘要】 金融危机爆发之后,发达经济体纷纷启用了量化宽松的货币政策,量化宽松货币政策的实施不仅为金融市场注入了大量流动性,有效地缓解了金融市场波动,而且在一定程度上修复了受损的货币政策传导机制,促进私人部门的消费和投资,延缓了经济衰退和刺激了经济复苏。本文从央行资产负债表的角度考查了各经济体量化宽松货币政策实施机制和政策效果。对量化宽松货币政策的缘起进行阐述的基础上,分析了量化宽松货币政策的央行资产负债表传导机制及美、欧、英、日四个经济体央行量化宽松货币政策的的实践及其政策效果。更多还原

【Abstract】 In response to the financial crisis,the central banks of major economies have started quantitative easing monetary policies.In this paper,the writer observed the implementation mechanisms and effects of Quantitative Easing policies which were imposed by major economies,from the point of view of the central banks’balance sheets.First of all,the paper demonstrated the origin of the policy.The second part is about the analysis of the transmission mechanism of QE from the aspect of central banks’balance sheets.Then the comparison of the transmission mechanism and policy effects of QE between and among America,Europe,UK and Japan.The last part comes to the conclusion.更多还原