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Please use this identifier to cite or link to this item: https://ah.lib.nccu.edu.tw/handle/140.119/32269
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dc.contributor.advisor朱美麗zh_TW
dc.contributor.author劉俊麟zh_TW
dc.contributor.authorLIU, CHUN LINen_US
dc.creator劉俊麟zh_TW
dc.creatorLIU, CHUN LINen_US
dc.date2005en_US
dc.date.accessioned2009-09-14T05:32:39Z-
dc.date.available2009-09-14T05:32:39Z-
dc.date.issued2009-09-14T05:32:39Z-
dc.identifierG0922580171en_US
dc.identifier.urihttps://nccur.lib.nccu.edu.tw/handle/140.119/32269-
dc.description碩士zh_TW
dc.description國立政治大學zh_TW
dc.description經濟研究所zh_TW
dc.description92258017zh_TW
dc.description94zh_TW
dc.description.abstractThe credit channel literature has made great strides in recent years, however, much of the literature to date has focused largely on the closed economy. Even some of the literatures are in a framework of an open economy, they only concentrate on the fixed or a quasi-fixed exchange rate regime. Therefore, the aim of this paper is to complete the theoretical framework by extending the Bernanke and Blinder model to the case of an open economy under a floating exchange rate regime. We find that the exchange rates puzzle takes place in our model when the influence from credit channels is very significant. We further to compare the credit channel effects under different models. Moreover, we adopt a cointegration analysis to study the credit channel effect, and the empirical evidences show that the credit channels exist in Taiwan for the sample period during November 1991 to January 2005.zh_TW
dc.description.tableofcontentsChapter 1 Introduction 1\r\nChapter 2 Literature Review 3\r\nChapter 3 The Extended Bernanke and Blinder Model 7\r\n3.1 The Model 7\r\n3.2 Graphical Representation 12\r\nChapter 4 Monetary Policy under Flexible Exchange Rates 14\r\n4.1 The Case with Significant Influence Generating from the Credit Channel 15\r\n4.2 The Case with Insignificant Influence Generating from the Credit Channel 16\r\n4.3 Comparison of Monetary Policy 17\r\nChapter 5 Preliminary Empirical Analysis 19\r\n5.1 Data 19\r\n5.2 Empirical Results 20\r\nChapter 6 Conclusion and Suggestions 26\r\nReference 27\r\nAppendix 31\r\n\r\nTABLES\r\nTable 1 Unit root tests 20\r\nTable 2 Residual Misspecification Tests for VAR Model 22\r\nTable 3 Tests for the Number of Cointegrating Vectors of Exchange Rate and Reserve 23\r\nTable 4 Coefficient Tests of the Reserves 24\r\n\r\nFIGURES\r\nFigure 1 The CC-LM-BP model with perfect capital mobility 13\r\nFigure 2 The case with significant influence from the credit channel 16\r\nFigure 3 The case with insignificant influence from the credit channel 17zh_TW
dc.language.isoen_US-
dc.source.urihttp://thesis.lib.nccu.edu.tw/record/#G0922580171en_US
dc.subjectCredit Channelen_US
dc.subjectBank Lending Channelen_US
dc.subjectCredit Marketen_US
dc.subjectOpen Economyen_US
dc.titleThe Effects of Credit Channel in a Small Open Economy with Perfect Capital Mobilityzh_TW
dc.typethesisen
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dc.relation.referenceBernanke, B. S. and S. A. Blinder (1988), “Is it Money or Credit, or Both, or Neither? Credit, Money, and Aggregate Demand,” American Economic Review, Papers and Proceedings, Vol.78, pp. 435-440.zh_TW
dc.relation.referenceBernanke, B. S. and S. A. Blinder (1992), “The Federal Fund Rate and the Channels of Monetary Transmission,” American Economic Review, Vol. 82, pp. 901-921.zh_TW
dc.relation.referenceMorris, C. and Sellon, Jr. (1995), “Bank Lending and Monetary Policy: Evidence on a Credit Channel,” Economic Review, Vol. 80, pp. 60-75.zh_TW
dc.relation.referenceChiades, P. and L. Gambacorta (2004), “The Bernanke and Blinder Model in an open economy: The Italian Case,” German Economic Review, Vol. 5, pp. 1-34.zh_TW
dc.relation.referenceCheng, H. P., (2004), “A Study on the Credit Transmission Mechanism of the Monetary Policy in Taiwan,” Master Thesis, Graduate School of Economics National Cheng Chi University. (in Chinese)zh_TW
dc.relation.referenceDickey, D.A. and Fuller, W.A. (1979), “Distribution of Estimators for Autoregressive Time Series with a Unit Root,” Journal of the American Statistical Association, Vol. 49, pp. 427-431.zh_TW
dc.relation.referenceDickey, D.A. and Fuller, W.A. (1981), “Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root, Econometrica, Vol. 49, pp. 1057-1072.zh_TW
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dc.relation.referenceJohansen, S. (1991), “Estimation and Hypothesis Testing of Cointegrating Vectors in Gaussian Vector Autoregressive Models,” Econometrica, Vol. 59, pp. 1551-1580.zh_TW
dc.relation.referenceJohansen, S. and K. Juselius (1992), “Testing Structural Hypotheses in a Multivariate Cointegration Analysis of the PPP and the UIP for UK,” Journal of Econometrics, Vol. 53, pp. 211-244.zh_TW
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dc.relation.referenceWang, S. W. (1994), “The Monetary Policy And the Credit Condition-an Empirical Study on Taiwan,” Master Thesis, Graduate School of Finance Tam Kang University. (in Chinese).zh_TW
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