摘要
本文在梳理相关研究文献的基础上,构建GMM动态模型,用商业银行微观数据进行了实证检验和分析。研究结果显示,货币政策会显著影响商业银行资产负债表内项目,进一步研究发现,货币政策对商业银行资产负债调节效应因银行异质性而有所差异,即大型国有商业银行会弱化货币政策的传导效果。最后,本文根据相关结论,提出相关宏观政策建议。
On the basis of combing related research literature,this paper constructed the GMM dynamic model and conducted empirical test and analysis with the micro data of commercial Banks.The research results show that monetary policy can significantly affect the items in the balance sheet of commercial Banks.Further research shows that the adjustment effect of monetary policy on the assets and liabilities of commercial Banks is different due to the heterogeneity of Banks,that is,large state-owned commercial Banks will weaken the transmission effect of monetary policy.Finally,based on relevant conclusions,this paper puts forward relevant macro policy recommendations.
出处
《金融发展评论》
2019年第6期96-113,共18页
Financial Development Review
关键词
货币政策
上市商业银行
资产负债
银行异质性
Monetary Policy
Listed Commercial Banks
Assets and Liabilities
Bank Heterogeneity
作者简介
课题组组长:张淑芳(供职于中国人民银行乌鲁木齐中心支行);课题组成员:王新(供职于中国人民银行乌鲁木齐中心支行);课题组成员:苗海燕(供职于中国人民银行博尔塔拉蒙古自治州中心支行);课题组成员:蔡真(供职于中国人民银行博尔塔拉蒙古自治州中心支行)。
