我国央行房贷政策的特点、问题及对策

近年来,中国房地产过热的现象已引起学术界及决策层的高度重视,中央银行也多次采取相关措施试图抑制房地产的进一步升温,进而最大限度的降低由此带来的负面影响。从传统的经济学角度看,当前央行政策并无不妥,但若从当代金融学(特别是近20年来西方较为前沿的金融学理论)角度来看,目前我国的货币政策的确存在一定问题:未能正确反映投资成本与投资预期的关系、政策对象界定不清、头寸体系过于单一,缺乏相关头寸支持等。

Characteristics, Problems and Countermeasure of Mortgage Policy by Our Central Bank

In recent years,over-heated real estate industry have drawn great attention from academic circles and state policy-making departments.Central bank has actively adopted relative measures many times to lower its heating-up trend,further reducing the negative influence it incurred.In the view of traditional economics,current policies adopted by central bank has not any inadequacy,but from the angle of modern finance,especially according to the last 20-year edge-cutting financial theories prevailing in the West,our monetary policy still has some problems,including failure of correctly reflecting the relation between cost of investment and expectation of it,indefinite policy objects,excessively simple cash position system,and lack of related money supply,etc.