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本文扩展了最优货币政策规则模型,考察了货币政策与其它逆周期调控政策的配合问题。通过理论分析和数字模拟,结果显示多种政策工具的配合确实能够更有效地稳定资产价格及宏观经济;我们的研究还表明,即使在有其它工具配合的情况下,货币政策仍需要对资产价格波动进行适当反应。
This paper extends the model of the optimal monetary policy rules and examines the cooperation between monetary policy and other countercyclical control policies. Through theoretical analysis and numerical simulation, the results show that the cooperation of a variety of policy tools can indeed stabilize asset prices and macroeconomics more effectively. Our research also shows that even with the cooperation of other tools, monetary policy still needs to make a price adjustment on asset prices Fluctuate the appropriate response.