存款保险制度对经济波动的影响研究——基于DSGE模型的分析

Study on the Impact of Deposit Insurance System on Economic Fluctuations:Analysis Based on DSGE Model

存款保险制度是中国为保护存款人利益作出的重大制度安排,完善中国存款保险制度对实现中国金融系统稳定具有重要意义,但目前鲜有文献运用理论研究的方法来分析存款保险制度对经济波动的影响机制。通过构建包含存款保险制度与金融摩擦的动态随机一般均衡模型,讨论了存款保险制度是如何影响银行与企业之间信贷活动,从而进一步影响宏观经济变量的问题。研究发现,存款保险制度能够通过对保费以及赔付比例进行逆周期调节,从而实现平抑产出、消费等变量周期性波动的目标。当银行面临较高风险时,存款保险能有效降低家庭福利损失。未来在完善与发展中国存款保险制度的过程中,充分考虑和运用存款保险制度对实体经济产生影响的作用机理和作用效果,能够更好地实现稳定宏观经济,维护金融安全的目标。

The deposit insurance system is a major institutional arrangement made by China to protect the interests of depositors.Improving China’s deposit insurance system is of great significance to achieving the stability of China’s financial system.However,there are currently few literatures that use theoretical research methods to analyze the impact mechanism of the deposit insurance system on economic fluctuations.The article constructs a dynamic stochastic general equilibrium model including deposit insurance system and financial frictions,and discusses how the deposit insurance system affects credit activities between banks and enterprises,thereby further affecting macroeconomic variables.Research proves that deposit insurance system can make countercyclical regulation through insurance premium and compensation ratios so as to achieve the goal of stabilizing the cyclical fluctuations of variables such as output and consumption.When banks face higher risks,deposit insurance can effectively reduce household welfare losses.In the process of improving and developing China’s deposit insurance system in the future,fully considering and using the mechanism and effects of the impact of deposit insurance system on the real economy can better achieve the goals of stabilizing the macro economy and maintaining financial security.