貨幣政策的放款管道、資產負債管道與銀行資本管道

Abstract

本計畫發展一個具銀行資產負債管理的動態一般均衡模型。在這模型裡，包含了兩個特色︰銀行受到資本適足性的規範、廠商貸款受到於擔保品提供的限制。藉由這樣的架構，我們主要分析底下幾個議題： (1) 貨幣政策的長期經濟成長效果與短期調整。 (2) 銀行放款管道如何影響貨幣政策的效果？ (3) 資產負債管道如何影響貨幣政策的效果？ (4) 銀行資本管道如何影響貨幣政策的效果？ (5) 銀行的資本適足性如何對景氣循環產生影響？ (6) 從福利角度與經濟成長角度所衡量的最適資本適足率適多少？ (7) 解釋銀行資本適足率的總體經濟意義

This project develops a dynamic general equilibrium model of bank asset and liability management that incorporates bank capital requirements and collateral-driven credit constraints. Based on the framework, I analyze the main issues: (1) the effect of monetary policies on the long-run economic growth and the transitional behavior of the economy. (2) how do lending channels affect the effectiveness of monetary policy? (3) how do balance sheet channels affect the effectiveness of monetary policy? (4) how do bank capital channels affect the effectiveness of monetary policy? (5) how do capital adequacy requirement have an impact on business cycles? (6) what are the optimal levels of capital adequacy requirement in terms of welfare maximization and economic-growth maximization? (7) the impact of are the macroeconomic implications of a capital adequacy requirement system which links bank lending to bank equity? (8) the macroeconomic implication of capital adequacy requirements