On Rescue of Financial Crisis
探讨了金融危机救援方法的扩展,回顾了相关经验,强调公共部门及时参与以防止危机蔓延,并指出央行在救援中的独特作用及政策实施需注意中长期动态平衡。
Rescue has been a key issue in the dealing with the international financial crisis and the sovereign debt crisis,as well as an issue of macroeconomic policy.This paper explored the expansion of the methodology of crisis rescue,and recapped the relevant experiences,the role of the private sector participation and the channels of the public sector participation.The paper emphasized the timeliness of the public sector participation to prevent crisis and contagion.Moreover,resources for rescue can include other options than fiscal fund;yet, this has to do with the distribution of such costs and benefits which complicate the selection of policy tools.The central bank can play a unique role in crisis rescue,but the policy implementation should pay attention to maintaining the medium-and long-term dynamic equilibrium.