| dc.contributor.advisor | 林柏生 | zh_TW |
| dc.contributor.advisor | Lin, Bo Sheng | en_US |
| dc.contributor.author (Authors) | 唐宗瑜 | zh_TW |
| dc.contributor.author (Authors) | Tang, Tsung Yu | en_US |
| dc.creator (作者) | 唐宗瑜 | zh_TW |
| dc.creator (作者) | Tang, Tsung Yu | en_US |
| dc.date (日期) | 2016 | en_US |
| dc.date.accessioned | 3-Feb-2016 12:02:46 (UTC+8) | - |
| dc.date.available | 3-Feb-2016 12:02:46 (UTC+8) | - |
| dc.date.issued (上傳時間) | 3-Feb-2016 12:02:46 (UTC+8) | - |
| dc.identifier (Other Identifiers) | G0101351033 | en_US |
| dc.identifier.uri (URI) | http://nccur.lib.nccu.edu.tw/handle/140.119/81169 | - |
| dc.description (描述) | 碩士 | zh_TW |
| dc.description (描述) | 國立政治大學 | zh_TW |
| dc.description (描述) | 國際經營與貿易學系 | zh_TW |
| dc.description (描述) | 101351033 | zh_TW |
| dc.description.abstract (摘要) | 本文嘗試整合傳統IS-LM-BP模型與Bernanke的CC-LM模型，將信用管道加入並採用Spiegel開放模型設定，推導出固定匯率下開放體系的CC-LM-BP模型及其動態調整機制。傳統的IS-LM-BP模型中，貸款與債券視為完全替代，當貨幣政策變動時僅有LM線移動，因此貨幣政策在固定匯率或是流動性陷阱時便會毫無用處；除此之外，種種外生變數變動在IS-LM-BP模型也具有明確效果。而信用管道將貸款與債券視為不完全替代，因此多了信用市場。早期探討信用管道多為封閉體系(CC-LM模型)，當在封閉體系中加入信用管道後，貨幣供給改變時不僅LM線移動，CC線也會跟著移動，從而改變與原本IS-LM模型不同的結果，但總的來說尚可判斷出正負變動。本文將此模型拓展為固定匯率開放體系下的CC-LM-BP模型，分別探討貨幣政策、財政政策、匯率及國外借貸利率變化等影響。當外生變數變動時，除了原有的LM線為維持固定匯率而有所調整外，CC線及BP線同時也會因信用效果跟著移動。此在貨幣政策的改變最為明顯，在IS-LM-BP模型中，固定匯率下的貨幣政策為無效，但在CC-LM-BP模型中由於三條線皆移動故政策為有效。相較於過往IS-LM-BP模型中只有LM線移動以達成均衡，參入信用管道下的CC-LM-BP模型動輒三條線同時變動，而這也讓外生變數改變後的利率等結果更難以預料。 | zh_TW |
| dc.description.abstract (摘要) | This thesis analyzes the influence of various policies on a proposed CC-LM-BP model under fixed exchange rate and the assumptions from Spiegel’s open economy theory. Specifically, the policies include fiscal policy, monetary policy, exchange rate policy, foreign interest rate policy, and foreign bond rate policy. The proposed CC-LM-BP model combines the traditional IS-LM-BP model and Bernanke’s CC-LM model. The traditional model uses the IS, LM, and BP curve to determine interest rate and output, while the CC-LM or CC-LM-BP model transform the IS curve into the CC curve by utilizing the credit channel mechanism. With the addition of the credit channel, traditional IS-LM-BP model treats bonds and loans as perfect substitutes, whereas the CC-LM-BP model treats bonds and loans as imperfect substitutes. In the CC-LM-BP model, when there are changes present in the exogenous variables, not only the LM curve shifts to adjust fixed exchange rate system, but also the CC and BP curve shift due to the credit effect. On the other hand, for the traditional IS-LM-BP model, only the LM curve shifts due to changes in the exogenous variables. By comparing the two abovementioned models using various policies, the result is especially different when changes are presented in the monetary policy. For example, in the traditional IS-LM-BP model, the monetary policy has no effect under a fixed exchange rate system or liquidity trap, whereas the policy works in the CC-LM-BP model because all curves shift simultaneously. However, since there are more curves changing, i.e., higher uncertainties, in the CC-LM-BP model, the results from the CC-LM-BP model are more unpredictable compared to the IS-LM-BP model and are required to be analyzed case-by-case. | en_US |
| dc.description.tableofcontents | 謝 辭 1摘 要 2Abstract 3目錄 4表目錄 6圖目錄 7第一章 前言 8第二章 文獻回顧 9第三章 理論模型 11第一節 模型架構 11 一、商品市場 12 二、貨幣市場 12 三、信用市場 12 四、外匯市場 13 五、推導CC-LM-BP模型 13第二節 各種狀態下的CC-LM-BP模型及運作機制 16 第三節 動態均衡的數學推導 20第四章 模型結果與比較 22第一節 短期均衡 22 一、寬鬆貨幣政策-國內貨幣供給量D ̅上升 22 二、財政政策上升G ̅ 23 三、貶值政策s上升 24 四、國外借貸利率r^f上升 24 五、小結 25第二節 長期均衡分析 26一、國內信用上升D ̅ 29 二、財政政策上升G ̅ 31 三、國內匯率上升s(貶值) 33 四、國外借貸利率r^f上升 36 五、國外債券利率i^f上升 38第五章 結論與未竟之業 40附錄 41附錄一IS-LM-BP模型 41附錄二各種條件下的CC-LM-BP模型 46附錄三動態調整計算過程 50附錄四 CC-LM-BP模型短期均衡數學推導 53附錄五 CC-LM-BP模型長期均衡數學推導 56參考文獻 64 | zh_TW |
| dc.format.extent | 5007068 bytes | - |
| dc.format.mimetype | application/pdf | - |
| dc.source.uri (資料來源) | http://thesis.lib.nccu.edu.tw/record/#G0101351033 | en_US |
| dc.subject (關鍵詞) | 信用管道 | zh_TW |
| dc.subject (關鍵詞) | 固定匯率 | zh_TW |
| dc.subject (關鍵詞) | 信用市場 | zh_TW |
| dc.subject (關鍵詞) | 開放體系下的信用管道 | zh_TW |
| dc.subject (關鍵詞) | credit channel | en_US |
| dc.subject (關鍵詞) | fixed exchange rate | en_US |
| dc.subject (關鍵詞) | CC-LM | en_US |
| dc.subject (關鍵詞) | CC-LM-BP | en_US |
| dc.subject (關鍵詞) | IS-LM-BP | en_US |
| dc.subject (關鍵詞) | credit market | en_US |
| dc.title (題名) | 固定匯率下開放體系的信用管道 - CC-LM-BP模型再深化 | zh_TW |
| dc.title (題名) | CC-LM-BP Model With Fixed Exchange Rates | en_US |
| dc.type (資料類型) | thesis | en_US |
| dc.relation.reference (參考文獻) | B.S. Bernanke, (1981), Bankruptcy, Liquidity and Recession, American Economic Review, Vol. 71, No. 2, pp.155-159.B. 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.B. S. Bernanke, & S.A. Blinder, (1988).Credit, Money, and Aggregate Demand, American Economic Review, Vol. 78, No. 2, pp.435-439.B. S. Bernanke, & S.A. Blinder,(1992). The Federal Funds Rate and the Channels of Monetary Transmission, American Economic Review, Vol. 82, No. 4, pp.901-921.B. 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.M. Azali, (2014). The Transmission Mechanism and the Channels of Monetary Policy, Free Lecture Notes. Retrieved July 12, 2014, from http://econ.upm.edu.my/~azali/TM.pdfM. M. Spiegel (1995), Sterilization of Capital Inflows through the Banking Sector: Evidence from Asia, FBRSF Economic Review.P. 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.R. S. Rajan and I. Sugema (1999), Capital Flows, Credit Transmission and the Current Crisis in Southeast Asia. CIES Discussion Paper, No.99/25. | zh_TW |
