货币经济学新范式下我国货币政策对信贷的影响

发布时间：2018-06-10 07:40

本文选题：货币经济学新范式 + 信贷配给　；参考：《财经问题研究》2010年04期

【摘要】：本文首先介绍并对比了传统货币经济学与新范式所持的观点,指出在由货币政策到信贷的传导过程中两者观点的主要不同之处在于传导方式和影响程度,新范式认为银行行为决定信贷总量并且在货币政策向信贷的传导过程中存在多种效应。其次基于VAR模型对我国货币政策对信贷量的影响进行了实证研究,结果表明新范式观点在我国现阶段基本正确。最后提出了相应的政策建议:在法定存款准备金政策的运用上,要把握"稳、准、狠"的原则;在利率政策的运用上,要着重强调对存贷利差的调节,引导银行的贷款行为。
[Abstract]:This paper first introduces and compares the views of the traditional monetary economics and the new paradigm, and points out that the main difference between the two views in the transmission process from monetary policy to credit lies in the transmission mode and the degree of influence. The new paradigm holds that bank behavior determines the amount of credit and there are many effects in the transmission of monetary policy to credit. Secondly, based on the VAR model, the paper makes an empirical study on the influence of monetary policy on the amount of credit in China, and the results show that the new paradigm view is basically correct at the present stage in China. Finally, it puts forward the corresponding policy suggestions: in the application of the policy of legal deposit reserve, we should grasp the principle of "stability, accuracy and ruthlessness", and in the application of interest rate policy, we should emphasize the adjustment of deposit and loan interest margin and guide the bank's loan behavior.
【作者单位】：东北财经大学应用金融研究中心;东北财经大学研究生院;
【基金】：辽宁省教育厅创新团队项目(2008T035)
【分类号】：F822.0;F832.4;F224

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