试论央行独立性与通货膨胀目标制的关系

【作者】 朱云欢；

【导师】 杨力；

【作者基本信息】 上海外国语大学 ， 国际贸易学， 2006， 硕士

【摘要】 二十世纪九十年代以来，盯住通货膨胀率的货币政策体制为越来越多的发达与发展中国家采用，实践证明：该政策对经济稳定有序的发展产生了积极的推动作用，因此受到了广泛的关注，理论界也对此进行了多方的研究。中央银行的独立性是盯住通货膨胀率的货币政策体制有效执行的重要因素之一。本文主要对理论界对通货膨胀与央行独立性之间关系的研究进行综述，重点评析了两个为理论界普遍接受的模型，来解释这种关系，并将上述模型分析与目前我国央行的情况相结合，分析我国央行的独立性问题，提出相关建议，以期为提高我国央行的独立性提供一点有益的参考。 本文共分四章。第一章介绍有关通货膨胀目标制与央行独立性的理论与背景。首先介绍了通货膨胀目标制产生与实施的背景，接着对通货膨胀目标制的理论依据以及通货膨胀目标制与中央银行独立性的关系进行综述。 第二章介绍了两个国际上有关通货膨胀率与央行独立性的模型。第一节介绍Green，John H．(1996)的扭转公众通胀预期的模型，该模型不但说明通货膨胀目标制有利于经济增长，还说明了该货币政策有利于扭转曾经实施的相机抉择的货币政策对公众通胀预期的影响。第二节介绍Eijffinger，Sylvester C．W(2002)的政府成本模型，模型解释了央行失去独立性的原因与过程。模型还反映出了独立的中央银行有更多还原

【Abstract】 Inflation targeting has been adopted by an increasing number of developed and developing countries in recent years. Facts have proved that this monetary policy helps to promote the steady economic growth, so attentions are widely paid on this policy and researches are carried out in various ways. The independence of central bank is one of the important factors for the effective execution of inflation targeting. This paper tries to introduce and summarize the academic studies on the relation between central bank independence and inflation targeting, focusing on two well-accepted models to explain that relation. It also applies the models to the current situation of China’s central bank independence and proposes related suggestions to improve the situation.This thesis is divided into four chapters. Chapter One introduces the related theories and backgrounds about inflation targeting and central bank independence. First it introduces the background of inflation targeting. Secondly, it describes the theories on which inflation targeting is based and the relations between inflation targeting and central bank independence.Chapter Two introduces two of the popular models on inflation rate and central bank independence. Section One introduces the of Green, John H. (1996), which shows that inflation targeting is conducive to economic growth and the conversion of the expectation of inflation更多还原