Contemporary Monetary Policy: Theory and Practice

Author: Fan Fangzhi, Zhao Mingxun
Publisher:
Publish Date: 2005-01-01
Features: Most of the authors of this series are young and middle-aged scholars. They have a solid theoretical foundation, keen minds, and a willingness to innovate. They have conducted in-depth and detailed research on the topics involved, aiming to introduce the most recent knowledge in economic management theory and practice to readers and help broaden their horizons. The common characteristics of this series are: adhering to the basic principles of Marxist-Leninist economics as the guiding ideology, reflecting the practical experience in China's economic construction, especially since the reform and opening-up; absorbing useful aspects of Western modern market economy theory and practice; paying attention to the introduction of new knowledge and concepts; striving to ensure that the materials are up-to-date, the explanations are systematic, comprehensive, clear, and the viewpoints are distinct; the content is accurate, practical, and appropriately balanced. The content of this book can be broadly divided into two parts.
Part one is about monetary policy, including debates on monetary policy objectives, the selection and combination of monetary policy tools, monetary policy operations, monetary policy intermediate indicators, and the effectiveness of monetary policy. This part introduces the basic content, theoretical advancements, and policy evolution of monetary policy, making it a valuable reference. At the same time, the authors have also reflected on the development and improvement of China's monetary policy and proposed positive policy recommendations.
The second part is about several thematic studies:
1. Price fluctuations and monetary policy. How to prevent large fluctuations in prices and overcome economic stagnation caused by inflation and deflation.
2. The stock market and monetary policy. The stock market is one of the transmission channels of monetary policy. As the importance of the stock market in the national economy continues to rise, it is necessary to study its role in monetary policy. The text summarizes research findings on Western monetary policy and the stock market, as well as the authors' empirical research conclusions, which offer some enlightening insights.
3. Fiscal policy and monetary policy coordination under open conditions. With the increasing openness of China's banking and securities markets, economic development and financial security are important issues faced by monetary authorities.
Overall, this book is well-documented, up-to-date, and rich in information, integrating theory with practice while also offering new ideas and innovations. It can serve as a reference for college and graduate students, as well as for researchers and interested readers for reference and exchange.