Improvement Of The Transmission Mechanism Of Monetary Policy Under The Influence Of The Financial Crisis

Issue is monetary policy and financial regulation in the financial running the most complex and realistic problems, the monetary policy transmission mechanism involves a lot of deep-rooted problems of financial systems. The effective transmission of monetary policy on restoring market confidence, promote economic development. Transmission mechanism into the article will affect the global financial crisis this backdrop, the financial crisis and monetary policy transmission mechanism combined with the analysis of proposed monetary policy to address the financial crisis - the financial markets and other traditional channels of transmission channels Interaction of integrated transmission system to form a complete transmission mechanism of monetary policy framework of a comprehensive theoretical analysis.Firstly, the monetary policy transmission mechanism of the traditional theory of the system to sort out and comment, including the effectiveness of monetary policy and the basic principles of monetary policy transmission.However, the development of the virtual economy of monetary policy transmission mechanism leading to conduction of the main changes that occur, transmission mechanism and the conduction delay changes, the second part of the main analysis of the current monetary policy changes, as well as the financial crisis impact on the monetary policy framework and the Fed monetary policy transmission innovation;The third part of the country by 2002-2009 the effectiveness of monetary policy in empirical analysis found that the current financial system in China is still not perfect, there are still many unstable factors such as market economy are continually refined, the information not completely symmetrical, the financial mechanism and the interface between economic entities is far from developed Western countries so closely. Therefore, including the interest rate channel and exchange rate channels of monetary transmission channels, including the role of theory is far from a big effect. In China, the original Credit Channel and has not completely lost its important role in monetary policy transmission mechanism mainly rely on the credit channel.Finally, building new transmission mechanism - an integrated multi-channel of monetary policy transmission mechanism, and the financial crisis and how to improve the efficiency of monetary policy transmission mechanism given in the relevant policy recommendations.