中文摘要：

金融危机的产生与不当的对待资产价格泡沫的货币政策操作有密切关系。在此次美国金融危机中货币政策操作及国际协调发挥了积极的作用。多种方式融资、国债工具的提供、增加市场流动性以及防止大量金融机构倒闭是此次美国金融危机中货币政策操作的基本特征。金融危机中货币政策操作存在政策反应太慢或太快、市场以及负面效应等风险,货币政策国际协调也有效率不高、稳定性不足和可持续性不强等方面的不足。因此,为提高货币政策金融危机管理的效率,一方面要改进货币政策的操作,另一方面要加大货币政策国际协调的力度。

英文摘要：

There is close relationship between the generating of financial crisis and improper monetary policy operation on asset price bubbles.Monetary policy operation and international coalition played an active role in the U.S.A.financial crisis.Basic features of monetary policy operation in the crisis were to finance by a variety of ways,to provide debt instruments,to increase market liquidity and to prevent the collapse of large financial institutions.There was risk of policy responses which was too supercilious or rapid market and negative effects during the monetary policy operation.At the same time there was insignificance in terms of low efficiency and insufficient stability and weak sustainability during the international coalition of monetary policy.In order to improve the efficiency of crisis management,it should be to make better monetary policy operation,on the other hand to intensify international coalition of monetary policy.