| 宽松货币政策、流动性过剩及影响：以美国为例 |
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| 引用本文： | 王东风.宽松货币政策、流动性过剩及影响：以美国为例[J].东北大学学报(社会科学版),2009,11(2):123-127. |
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| 作者姓名： | 王东风 |
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| 作者单位： | 沈阳工程学院,技术经济系,辽宁沈阳,110136 |
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| 基金项目： | 辽宁省社科联资助项目 |
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| 摘 要： | 流动性的本质要素是货币.宽松货币政策使得经济主体将短期资产替换为收益更高的长期资产,由此引发流动性过剩,造成资产价格泡沫膨胀.2000年以后美联储开始实施宽松货币政策,这一政策导致了流动性过剩,吹大了房地产市场泡沫.并带动次级抵押贷款市场及次级抵押贷款证券市场繁荣.流动性过剩下的房地产泡沫膨胀及随后的泡沫破裂是美国次贷危机发生的主要原因.
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| 关 键 词： | 货币政策 流动性过剩 次贷危机 |
Easy-money Policy and Excess Liquidity: with America's Subprime Mortgage Crisis as Example |
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| WANG Dong-feng.Easy-money Policy and Excess Liquidity: with America''''s Subprime Mortgage Crisis as Example[J].Journal of Northeastern University(Social Science),2009,11(2):123-127. |
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| Authors: | WANG Dong-feng |
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| Institution: | Department of Technical Economics;Shenyang Institute of Engineering;Shenyang 110136;China |
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| Abstract: | The essence of liquidity is currency.When a central bank adopts the easy-money policy to enable economic entities to substitute long-lived assets for shortlived assets with the intention of acquiring more gain,the excess liquidity will unavoidably come to pass to form bubble inflation of the price of assets.The Federal Reserve System had adopted the easy-money policy since 2000,then the policy caused excess liquidity to inflate the real estate bubbles,thus hastening the formation of subprime mortgage loan m... |
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| Keywords: | monetary policy excess liquidity subprime mortgage crisis |
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