基于存款利率市场化进程中存款利率短期内会上升这一国际经验。本文基于小型开放经济特点构建新凯恩斯动态一般均衡模型,模拟开放经济条件下的利率市场化的货币政策冲击效应,结果发现:在开放条件下,利率市场化提高了货币政策的有效性,能够更加有效的控制通胀;随着稳态利率的上升,国内技术冲击更有效的促进经济增长、降低对通胀,因此,要坚定不移的实施利率市场化。 Based on the international experience that deposit rates will rise in the short term in the marketization of deposit rates. This paper builds a new Keynesian dynamic general equilibrium model based on the characteristics of small-scale open economy and simulates the monetary policy shock effect of interest rate liberalization under the condition of open economy. The result shows that the liberalization of interest rate can increase the effectiveness of monetary policy, Effective control of inflation; With the steady-state interest rates rise, the domestic technical impact more effectively promote economic growth and reduce inflation, therefore, we must unswervingly marketization of interest rates.