政策不确定性、货币政策与银行风险承担

发布时间：2018-01-07 12:35

本文关键词：政策不确定性、货币政策与银行风险承担　出处：《华东经济管理》2017年05期 　论文类型：期刊论文

【摘要】：政策不确定性背景下的货币政策银行风险承担渠道表现特征是一个亟待解答的问题。文章基于我国商业银行面板数据全面分析了政策不确定性环境下我国不同类型货币政策对银行风险承担水平的影响特征。实证检验表明,货币政策对银行风险承担水平有显著影响,货币政策越宽松,银行会承担越高的风险。而且,相对数量型货币政策工具而言,价格型货币政策工具对银行风险承担的影响更为显著。进一步研究发现,政策不确定性不仅对银行体系的稳定有负面冲击,而且对货币政策与银行风险承担水平之间的关系也有显著影响。随着政策不确定性程度的上升,货币政策的变化对银行风险承担水平的影响程度越来越大,而且这种影响在价格型货币政策工具中表现得更为明显。
[Abstract]:Under the background of policy uncertainty, it is an urgent problem to solve the performance characteristics of the risk bearing channels of monetary policy banks. Based on panel data of commercial banks in China, this paper analyzes the different types of risk taking channels in China under the environment of policy uncertainty. The characteristics of the impact of the "type" monetary policy on the risk-bearing level of banks. Monetary policy has a significant impact on the risk-taking level of banks. The looser monetary policy is, the higher the risk will be. Moreover, relative to the quantitative monetary policy instruments. The impact of price monetary policy tools on the risk assumption of banks is more significant. Further studies show that policy uncertainty not only has a negative impact on the stability of the banking system. It also has a significant impact on the relationship between monetary policy and the risk-taking level of banks. With the increase of the degree of policy uncertainty, the change of monetary policy has more and more influence on the risk-taking level of banks. And this effect is more evident in price-based monetary policy instruments.
【作者单位】：西安交通大学经济与金融学院;
【基金】：国家自然科学基金项目(71373201;71673214)
【分类号】：F822.0
【正文快照】： 一、引言人们普遍认为2008年金融危机的爆发与长期较为宽松的货币政策有密切关系[1]。曾经长期被忽略的货币政策与银行风险承担之间关系也开始逐渐引起国内外研究者的关注。多数理论研究和实证研究表明,宽松的货币政策会引起银行承担更高水平的风险,并将此影响机制称之为货币

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