How to Control Global Imbalance

在这个项目中，我们试图从理论和经验两个方面来检验全球失衡调整的可行性。在21世纪头10年，世界经济出现巨大的外部失衡是一种特殊现象。因此，研究的领域不仅包括经常项目的变化，还包括资金在发达经济体中的净流动面和流动面的流动以及宏观经济政策的传导机制。我们的研究成员定期召开研究会议，取得了研究进展。这个项目最终成功地出版了学术著作《全球货币流动的实证研究：金融危机后的新挑战课题》。在这本书中，我们成功地从多个角度对全球失衡的可能性和可行性进行了实证研究，引起了许多学者的关注。

In this project, we tried to examine the feasibility of the global imbalance adjustment both theoretically and empirically. The emergence of huge external imbalances in the world economy had been a peculiar phenomenon in 2000s. Consequently, the research fields include not only the change of current account but also the movements of flow of funds from net and gloss sides and transmission mechanism of macroeconomic policy in the advanced economy. Our research member held a research meeting on a regular basis and made progress in our studies.This project was finally succeeded as a publication of the academic book titled The empirical study of Global money flow: the new challenging subject after financial crisis. In this book we gained success to investigate empirically the possibility and feasibility of the global imbalance from various perspectives and it has draws many academicians'attention.