摘要
在考虑银行个体资本水平和存款水平差异的基础上,通过构建模型分析了银行个体受到资本充足率和存款准备金率双重约束时的最优信贷决策行为,并对垄断竞争的贷款市场进行均衡分析,研究了不同情况下货币政策变化通过银行信贷渠道传导的有效性.研究结果表明,①当所有银行均资本充足并能满足存款准备金率约束时,货币政策的银行信贷渠道传导是有效的;当所有银行的资本均不够充足或均不能满足存款备金率约束时,货币政策的银行信贷渠道传导完全失效;②资本充足并能满足存款准备金率约束的银行在贷款市场中的比例越高,货币政策的银行信贷渠道传导更加有效.
The optimal credit-decision behavior of an individual bank constrained by both capital adequacy and deposit reserve ratios was analyzed considering the differences in the capital and deposit levels between banks. Besides, effectiveness of the monetary policy transmission by bank credit channels was studied in the monopolistic competition loan market under different cases by equilibrium analysis. The results indicate that： （1） when all hanks have adequate capital and satisfy the deposit reserve ratio constraint, the bank credit channel transmission of the monetary policy is effective; while when the capital of all banks is not adequate or none of the banks can satisfy the deposit reserve ratio constraint, the transmission is absolutely ineffective; （2） the higher the proportion of banks that have adequate capital and satisfy the deposit reserve ratio constraint in the loan market is, the more effective is the bank credit channel transmission of the monetary policy.
基金
国家自然科学基金(71101135)
中国博士后科学基金(20110490818)资助
关键词
货币政策
信贷渠道传导
资本充足率
存款准备金率
monetary policy
credit channel transmission
capital adequacy
deposit reserve ratio
