摘要
本文基于2009~2019年中国16家上市银行的季度数据,分析了宏观审慎监管、货币政策与银行自身异质性对商业银行风险承担渠道的影响,并进一步考察了宏观审慎政策+货币政策的"双支柱"调控是否可以为我国银行业带来稳定。研究发现:加强宏观审慎监管与紧缩性货币立场均会降低银行的风险承担;银行异质性会对宏观审慎政策效果产生不同影响;适度地审慎监管会削弱货币立场对风险承担的冲击,二者的配合有利于物价稳定与金融稳定目标的实现。
Based on the quarterly data of 16 listed banks in China from 2009 to 2019,this paper analyzes the impact of macro-prudential regulation,monetary policy and banks’heterogeneity on the risk-taking channels of commercial banks,and fur-ther examines investigates whether the"DoublePillar"regulation can bring stability to China’s banking industry.The study found that the enhancement of macro-prude-tial supervision and the tightening monetary position will reduce the risk exposure of banks;The heterogeneity of banks will have different effects on macro-prudential policies;Moderate prudential supervision will weaken the impact of monetary stance on risk-taking.The coordination is conducive to the realization of the dual goals of price stability and financial stability.
出处
《浙江金融》
2020年第10期70-80,共11页
Zhejiang Finance
基金
2019年浙江工商大学研究生科研创新基金年度项目(编号:58)。
关键词
宏观审慎监管
货币政策
银行风险承担
双支柱调控框架
Macro-prudential Policy
Monetary Policy
Bank risk-taking
Double-pillar Regulation Framework
