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Title: A Test for the Bank Lending Channel of Monetary Policy in Taiwan
Authors: 孫慎明
Sun, Shen-Ming
Contributors: 朱美麗
Sun, Shen-Ming
Keywords: 銀行借貸管道
Bank lending channel
Date: 2004
Issue Date: 2009-09-14 13:34:07 (UTC+8)
Abstract: 本篇論文旨在探討台灣貨幣政策的銀行借貸傳遞管道,著重在銀行行為的分析,我們為銀行在借貸管道中所扮演的行為提供了一個理論的解釋架構。實證上利用共整合與衝擊反應函數分析貨幣政策的影響,結果發現因銀行會調整資產負債的組合來抵銷貨幣政策的影響,所以銀行借貸管道在台灣並不是一個重要的貨幣政策傳遞管道。
This paper investigates the role of the bank lending channel in the monetary policy transmission process in Taiwan.
Particularly, we provide a theoretical framework to describe the effect of banks' behaviors on the bank lending channel.
In the empirical study, we perform cointegrated relation and impulse response to analyze the effect of monetary policy on bank loans.
We find that a bank lending channel is not a relevant transmission mechanism of monetary policy, which can be due to banks' buffer behaviors.
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Description: 碩士
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Data Type: thesis
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