A Research into the Relationship between the Effectiveness of Monetary Policy and the Endogenesis of Monetary Supply

Under the conditions that the effect of monetary policy is not ideal and the aim of monetary policy operation is mainly to regulate currency amount,the research into the relationship between the effectiveness of the monetary policy of our country and the endogenesis of monetary supply is of great theoretical and practical significance.According to the general money supply model,the aothor finds the factors influencing the characteristics of the monetary supply of our country,holds that China's money supply has the character of endogenesis.On the condition of monetary supply endogenesis,to improve the effectiveness of monetary policy,the exchange rate elasticity should be increased,the coordination of monetary policy and fiscal policy should be reinforced,and inflation rate should be selected appropriately as monetary policy anchor.