中央银行地区分行辖区划分的合理性——基于结构性VAR的中美比较研究

On Rationality of Regional Partitions of Central Banking System: A Sino-US Comparison Based on Structural VAR

使用SVAR模型,以各省市区之间供给冲击的相关系数和需求冲击的相关系数为出发点,本文分析了中国人民银行地区分行辖区划分的合理性,发现目前地区分行的辖区划分有些欠妥,并使用同样方法考察了美国联邦储备区的划分,在此基础上对中央银行体系改革给出了政策建议。

By using a structural VAR model this paper investigates the regional partitions of central banking system in contrast to those of Federal Reserve System. The author separates the provincial demand shocks and supplies shocks, and calculates the correlation coefficients of the supply shocks and those of the demand shocks. The regional correlation coefficients of demand shocks and supply shocks differ greatly, indicating that regional partitions of central banking system are questionable. Conclusions and policy implications are given consequently.