货币政策对银行市场势力的影响——一个内生化货币政策的理论模型

Impact of Monetary Policy on Banking Market Power——A Theory Pattern of Internally Generated Monetary Policy

货币政策对银行市场势力产生一定影响。运用银行业空间竞争模型和勒纳指数分析银行市场势力,得出结论:顺周期的货币政策规则将增强银行市场势力逆商业周期变动的幅度,即由于货币政策规则的变化而导致银行在不同商业周期中的市场竞争程度是不一样的。但是,应注意的是,用这种估算方法观察到的勒纳指数变化并不是银行行为改变的结果,而可能是中央银行改变政策性利率所致。

Monetary policy has some influence on bank market power. A conclusion can be made by using banking space competition pattern and Lemer index to analyze bank market power following the cycle of monetary policy rules will reinforce the changing extent for bank market power disobeying business cycle, i. e. , the market competition extent in different business cycle resulted from changing of monetary policy rules is different. But it be noted that the Lemer index change observed through this estimating method is not the result from bank behavior changing, but probably the result from the central bank changing policy interest rates.