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題名 開放信用市場的CC-LM-BP模型:浮動匯率體制
CC-LM-BP Model in the Floating Exchange Rate
作者 陳永錚
貢獻者 林柏生
Lin, Bo Sheng
陳永錚
關鍵詞 信用市場
浮動匯率
日期 2013
上傳時間 25-Aug-2014 15:14:00 (UTC+8)
摘要 本篇論文嘗試結合傳統IS-LM-BP以及CC-LM模型，採用Spiegel開放模型的設定，將IS-LM-BP延伸到開放體系，成為開放信用市場的CC-LM-BP模型，並且研究匯率動態調整的過程。\n在論文中的四個比較靜態分析中，發現當貨幣供給增加時，未必會造成國際收支赤字，反而有可能造成國際收支盈餘，造成本國幣升值，減少貨幣供給對產出的效果。\n就Mundell命題而言，當本國債券市場完全開放，貨幣政策依舊最有效；然而若為本國信用市場完全開放，貨幣政策在浮動匯率下便非最有效。就財政政策而言，在極端情況下都沒有任何效果，故分辨哪一個資本市場開放並沒有實質上的意義。\n由於本國債券市場以及信用市場開放的緣故，使得本國總體經濟更容易受到外國利率的影響；當外國債券市場利率提升時，若本國完全開放債券市場，則外國債券利率上升，將帶動本國產出的增加；但是若本國信用市場完全開放，則外國債券利率上升，對本國總體經濟完全沒有任何影響。\n就外國信用市場利率而言，當外國信用市場利率上升，若本國債券市場完全開放，短期將造成本國產出下降，但長期對本國總體經濟完全沒有影響；然而若是本國信用市場完全開放，短期將造成本國產出大幅下降，而長期仍舊會造成產出下降。
參考文獻 B.A. Abrams and F.R. Settle (2003),”Do Fixed Exchange Rates Fetter Monetary Policy? A Credit View,” NBER Working Papers, No.2003-09.\n\nB.S. Bernanke (1981),”Bankruptcy, Liquidity and Recession,” American Economic Review, Vol. 71, No. 2, pp.155-159.\n\nB. S. Bernanke (1983),”Nonmonetary Effects of the Financial Crisis in the propagation of the Great Depression,” American Economic Review, Vol. 73, No. 3, pp.257-276.\n\nB. S. Bernanke and S. A. Blinder (1988),”Credit, Money, and Aggregate Demand,” American Economic Review, Vol. 78, No. 2, pp.435-439.\n\nB. S. Bernanke and S. A. Blinder (1992),”The Federal Funds Rate and the Channels of Monetary Transmission,” American Economic Review, Vol. 82, No. 4, pp.901-921.\n\nB. S. Bernanke and M. Gertler (1995),”Inside the Black Box: The Credit Channel of Monetary Policy Transmission,” Journal of Economic Perspectives, Vol. 9, No.4 pp.27-48.\n\nF. S. Mishkin (1995), “Symposium on the Monetary Transmission Mechanism,” Journal of Economic Perspectives, Vol. 9, No. 4, pp. 3-10.\n\nP. Chiades and L. Gambacorta (2004),”The Bernanke and Blinder Model in an Open Economy: The Italian Case,” German Economic Review, Vol.5, No.1, pp.1-34.\n\nR. S. Rajan and I. Sugema (1999),”Capital Flows, Credit Transmission and the Current Crisis in Southeast Asia” CIES Discussion Paper, No.99/25.\n\nR. A. Mundell (1963), “Capital Mobility and Stabilization Policy under Fixed and Flexible Exchange Rates,” Canadian Journal of Economics and Political Science 29 : pp. 475-485.\n\nM. M. Spiegel (1995),”Sterilization of Capital Inflows through the Banking Sector: Evidence from Asia,” FBRSF Economic Review.
描述 碩士
國立政治大學
國際經營與貿易研究所
101351026
102
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0101351026
資料類型 thesis
dc.contributor.advisor 林柏生zh_TW
dc.contributor.advisor Lin, Bo Shengen_US
dc.contributor.author (Authors) 陳永錚zh_TW
dc.creator (作者) 陳永錚zh_TW
dc.date (日期) 2013en_US
dc.date.accessioned 25-Aug-2014 15:14:00 (UTC+8)-
dc.date.available 25-Aug-2014 15:14:00 (UTC+8)-
dc.date.issued (上傳時間) 25-Aug-2014 15:14:00 (UTC+8)-
dc.identifier (Other Identifiers) G0101351026en_US
dc.identifier.uri (URI) https://ah.lib.nccu.edu.tw/item?item_id=77614-
dc.description (描述) 碩士zh_TW
dc.description (描述) 國立政治大學zh_TW
dc.description (描述) 國際經營與貿易研究所zh_TW
dc.description (描述) 101351026zh_TW
dc.description (描述) 102zh_TW
dc.description.abstract (摘要) 本篇論文嘗試結合傳統IS-LM-BP以及CC-LM模型，採用Spiegel開放模型的設定，將IS-LM-BP延伸到開放體系，成為開放信用市場的CC-LM-BP模型，並且研究匯率動態調整的過程。\n在論文中的四個比較靜態分析中，發現當貨幣供給增加時，未必會造成國際收支赤字，反而有可能造成國際收支盈餘，造成本國幣升值，減少貨幣供給對產出的效果。\n就Mundell命題而言，當本國債券市場完全開放，貨幣政策依舊最有效；然而若為本國信用市場完全開放，貨幣政策在浮動匯率下便非最有效。就財政政策而言，在極端情況下都沒有任何效果，故分辨哪一個資本市場開放並沒有實質上的意義。\n由於本國債券市場以及信用市場開放的緣故，使得本國總體經濟更容易受到外國利率的影響；當外國債券市場利率提升時，若本國完全開放債券市場，則外國債券利率上升，將帶動本國產出的增加；但是若本國信用市場完全開放，則外國債券利率上升，對本國總體經濟完全沒有任何影響。\n就外國信用市場利率而言，當外國信用市場利率上升，若本國債券市場完全開放，短期將造成本國產出下降，但長期對本國總體經濟完全沒有影響；然而若是本國信用市場完全開放，短期將造成本國產出大幅下降，而長期仍舊會造成產出下降。zh_TW
dc.description.tableofcontents 謝 辭 1\n摘 要 2\nAbstract 3\n表目錄 5\n圖目錄 6\n第一章 前言 7\n第二章 文獻探討 8\n第三章 理論架構 12\n第一節 模型設定 12\n第二節 模型穩定性分析 19\n第四章 比較靜態分析 20\n第一節 比較靜態分析:貨幣政策 21\n第二節 比較靜態分析:財政政策 28\n第三節 比較靜態分析:外國債券利率 31\n第四節 比較靜態分析:外國信用市場利率 34\n第五章 結論 41\n附錄 42\n參考文獻 61zh_TW
dc.format.extent 1340816 bytes-
dc.format.mimetype application/pdf-
dc.language.iso en_US-
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0101351026en_US
dc.subject (關鍵詞) 信用市場zh_TW
dc.subject (關鍵詞) 浮動匯率zh_TW
dc.title (題名) 開放信用市場的CC-LM-BP模型:浮動匯率體制zh_TW
dc.title (題名) CC-LM-BP Model in the Floating Exchange Rateen_US
dc.type (資料類型) thesisen
dc.relation.reference (參考文獻) B.A. Abrams and F.R. Settle (2003),”Do Fixed Exchange Rates Fetter Monetary Policy? A Credit View,” NBER Working Papers, No.2003-09.\n\nB.S. Bernanke (1981),”Bankruptcy, Liquidity and Recession,” American Economic Review, Vol. 71, No. 2, pp.155-159.\n\nB. S. Bernanke (1983),”Nonmonetary Effects of the Financial Crisis in the propagation of the Great Depression,” American Economic Review, Vol. 73, No. 3, pp.257-276.\n\nB. S. Bernanke and S. A. Blinder (1988),”Credit, Money, and Aggregate Demand,” American Economic Review, Vol. 78, No. 2, pp.435-439.\n\nB. S. Bernanke and S. A. Blinder (1992),”The Federal Funds Rate and the Channels of Monetary Transmission,” American Economic Review, Vol. 82, No. 4, pp.901-921.\n\nB. S. Bernanke and M. Gertler (1995),”Inside the Black Box: The Credit Channel of Monetary Policy Transmission,” Journal of Economic Perspectives, Vol. 9, No.4 pp.27-48.\n\nF. S. Mishkin (1995), “Symposium on the Monetary Transmission Mechanism,” Journal of Economic Perspectives, Vol. 9, No. 4, pp. 3-10.\n\nP. Chiades and L. Gambacorta (2004),”The Bernanke and Blinder Model in an Open Economy: The Italian Case,” German Economic Review, Vol.5, No.1, pp.1-34.\n\nR. S. Rajan and I. Sugema (1999),”Capital Flows, Credit Transmission and the Current Crisis in Southeast Asia” CIES Discussion Paper, No.99/25.\n\nR. A. Mundell (1963), “Capital Mobility and Stabilization Policy under Fixed and Flexible Exchange Rates,” Canadian Journal of Economics and Political Science 29 : pp. 475-485.\n\nM. M. Spiegel (1995),”Sterilization of Capital Inflows through the Banking Sector: Evidence from Asia,” FBRSF Economic Review.zh_TW