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货币政策曲线
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货币政策曲线
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monetary policy curve
货币政策曲线
货币当局在制定货币政策中的政策性目标利率时,可以设置实际利率中的自主性部分(外生性),然后通过当前通胀水平来设定实际利率目标,为控制宏观货币流动性的规模提供政策性约束工具,由此形成的实际利率与通胀率之间的关系曲线。实际利率是货币资产实际购买力的一种度量,它由两个方面的因素所决定,一个是经济体的自然率因素(代际边际替代率或时间偏好率的外生性)决定;另一个是由市场供求、风险结构与期限结构的特征所决定。
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