摘要
金融危机爆发后,宏观审慎政策成为金融监管与宏观经济调控模式改革的核心。尽管关于宏观审慎政策框架中很多问题的研究还远未达成共识,但无论在理论还是实践层面均已经积累了大量的研究成果与实践经验有待深入总结。依照宏观审慎政策理论与实践发展的逻辑脉络,本文一方面将对宏观审慎政策在其目标、工具、有效性、作用机制等方面的已有研究进行梳理和总结;另一方面,也将对国内外宏观审慎政策的实践进展进行简要综述。同时,结合构建我国宏观审慎政策框架的目标,本文将在综述的基础上,提出对我国宏观审慎政策的理解及未来宏观审慎政策理论与实践上有待深入探索的主题。
After the break out of the crisis, macro - prudential policy has become the center of the financial re- form and attracted considerable attention among researchers. The policy debates and controversies are focusing in particular on the aim and tools of macro - prudential poticy, its relationship with monetary policy, and the implementation, conduction mechanism, and effectiveness of different tools. Although it is far from reaching a consensus on these issues, a literature review will be necessary which include the development of theory and policy. This paper provides an overview of research on this topic, and also identifies important future research questions that emerge from both the literature and the current policy.
出处
《金融研究》
CSSCI
北大核心
2012年第1期20-35,共16页
Journal of Financial Research
基金
"2011年度国家社会科学基金重大项目(11&ZD016)"和"2011年度国家社会科学基金项目(11CJY103)"资助
关键词
宏观审慎政策
系统风险
顺周期性
系统重要性
关联性
Macro - prudential policy
Systemic risk
Procyclicality
Systemic importance
Network model
