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来源：百度知道 编辑：UC知道 时间：2024/05/27 00:27:04
Sample countries responded to the macroeconomic and financial sector implications of the inflows in a variety of ways, for which a number of factors have played a role. These included: (i) the monetary policy framework in place at the time, and (ii) the process of economic integration in the context of OECD membership and EU accession. Both of these factors have constrained the range of policy responses available to policymakers, leading in some cases to changes in the monetary policy or capital account regimes. The specific policy
response has been shaped by whether the authorities’ objective was to affect the flows themselves (e.g., their size and maturity composition, hence durability), or to deal with the
complications they had brought (e.g., problems in achieving monetary or inflation targets, exchange rate regime vulnerability, worsening current accounts, and rising financial risks).
A. Policy Responses During Periods of Exchange Rate Targeting
When most cou
response has been shaped by whether the authorities’ objective was to affect the flows themselves (e.g., their size and maturity composition, hence durability), or to deal with the
complications they had brought (e.g., problems in achieving monetary or inflation targets, exchange rate regime vulnerability, worsening current accounts, and rising financial risks).
A. Policy Responses During Periods of Exchange Rate Targeting
When most cou
样本国家回答了宏观经济和金融部门的影响，流入在以各种方式，其中有一些因素起了作用。这些措施包括： （一）货币政策的框架内，在地方上的时间，以及（ 2 ）经济一体化的进程中的背景下，经合组织成员和加入欧盟。这两个因素都限制了一系列的政策反应，提供给决策者，导致在某些情况下的变化，货币政策或资本帐户制度。具体政策
反应已被塑造出来的，是否与当局的目标是影响流动本身（例如，其规模大小和成熟程度的成分，所以保质期） ，或处理不符合
并发症，他们带来了（例如，新问题，在实现货币或通胀目标，汇率制度的脆弱性，恶化的往来帐户，并增加金融风险） 。
答：政策反应期间的汇率对象
当大多数国家都保持着某种形式的汇率和/或货币目标，我们的政策回应，以流入的目的是在普遍解决是不可能的三位一体的两难局面。作为国家开放资本账户的迅速融入全球资本市场，试图同时实现（明示或默示）通货膨胀和汇率目标，提出了应变对现有组合的货币和汇率政策
（克罗地亚，捷克共和国，匈牙利，以色列，波兰和罗马尼亚） 。加上可以预测的汇率，高利率，以降低通胀率，吸引了资本
流入，使升值压力对货币和施压汇率目标。面对这些贸易帐，决策者们之间作出选择的影响
流入自己或对付他们的影响，在许多情况下，混合了两种类型的，采取措施（表3和表6附录一） 。