摘要
近年来,现代货币理论(MMT)成为经济理论和政策讨论的焦点。本文以马克思主义世界货币理论为基础,研究了现代货币理论在美国货币政策中的实践及其原因,并对其深刻影响及未来趋势作出判断:MMT化将对美元作为世界货币的地位带来损害,未来美国的货币政策将会呈现在MMT与传统货币政策之间的"摇摆"态势,但无论美联储如何操作,都无法改变美元的世界货币地位不断受到其货币政策MMT化损害的大趋势。因此,必须用马克思主义政治经济学的观点方法,认清MMT的理论实质、根本误区和政策背景,避免由此带来的风险,坚持稳字当头,并在国际货币金融秩序改革进程中稳慎推进人民币国际化。
Modern Monetary Theory(MMT)has become the focus of economic theory and policy discussions recently.Based on the Marxist world currency theory,we studied the practice of modern monetary theory in the US monetary policy and its reasons and analyzed its profound impact and future trends.MMT will undermine the status of the US dollar as a world currency;in the future,the U.S.monetary policy will show a“swing”between MMT and traditional monetary policy.However,no matter how the Fed operates,it cannot change the major trend,that is,the U.S.dollar’s status as a world currency will continue to be undermined by its monetary policy.Therefore,it is necessary to use Marxist political economic viewpoints and methods to clearly understand the theoretical essence,fundamental misunderstandings and policy background of MMT,avoid the risks caused by it,adhere to the principle of stability,and be cautious in the process of reforming the national monetary and financial order while promoting the internationalization of RMB.
作者
张晨
张敏
Zhang Chen;Zhang Min(School of Economics,Renmin University of China,Beijing 100086;School of Marxism,Capital Normal University,Beijing 100089)
出处
《经济纵横》
CSSCI
北大核心
2021年第12期14-22,共9页
Economic Review Journal
基金
国家社科基金青年项目“习近平关于防范系统性金融风险的重要论述研究”(编号19CKS019)的成果
关键词
现代货币理论
政策实践
世界货币
人民币国际化
Modern Monetary Theory
Policy Practice
World Currency
RMB Internationalization
作者简介
张晨,中国人民大学经济学院副教授;张敏,首都师范大学马克思主义学院副教授。
