CAJ | 학술논문

保持充足的外汇储备有利于保证我国国民经济平稳健康发展，增加宏观调控手段，稳定人民币汇率，维护国家经济安全。外汇储备快速增长带来外汇占款大幅增加，使得基础货币投放随之增加，然后再通过乘数作用成倍放大货币供应量，导致货币供应量内生性增加，将不利于我国货币政策的有效实施，如何缓解外汇储备变动对货币政策的冲击成为货币当局急需解决的难题。因此，文中对外汇储备与货币政策之间的关系进行深入分析并且提出相关政策建议。
보지충족적외회저비유리우보증아국국민경제평은건강발전，증가굉관조공수단，은정인민폐회솔，유호국가경제안전。외회저비쾌속증장대래외회점관대폭증가，사득기출화폐투방수지증가，연후재통과승수작용성배방대화폐공응량，도치화폐공응량내생성증가，장불리우아국화폐정책적유효실시，여하완해외회저비변동대화폐정책적충격성위화폐당국급수해결적난제。인차，문중대외회저비여화폐정책지간적관계진행심입분석병차제출상관정책건의。
conomy, safeguard Sufficient foreignexchange reserves can keep a stable and healthy development of our e strengthen the macroscopic adjustment and control, stabilize the exchange rate of RMB, and our economic safety. On the other hand, the fast growth of foreign exchange reserves has al so brought some negative influences to our economic development due to the increasing RMB counter part of foreign exchange reserves and more RMB supply in China. The paper points out that the effec tive implementation of our monetary policy relies on reducing the impacts of the changes in foreignex change reserves and gives an incisive analysis of the relationship between foreignexchange reserves and the monetary policy before bringing up some policy suggestions.