English  |  正體中文  |  简体中文  |  Post-Print筆數 : 27 |  Items with full text/Total items : 112721/143689 (78%)
Visitors : 49520557      Online Users : 758
RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
Scope Tips:
  • please add "double quotation mark" for query phrases to get precise results
  • please goto advance search for comprehansive author search
  • Adv. Search
    HomeLoginUploadHelpAboutAdminister Goto mobile version
    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/60327


    Title: 貨幣政策中之信用管道:以台灣為例
    The credit channel of monetary policy: evidence from Taiwan
    Authors: 王安中
    Contributors: 朱美麗
    王安中
    Keywords: Credit channel
    Monetary policy
    Interest rates
    Date: 2010
    Issue Date: 2013-09-05 14:19:06 (UTC+8)
    Abstract: The credit market is an important subject in today’s macroeconomic world. Prior to the introduction of the credit market, traditional models only included the goods market and money market to form the IS-LM model. Under this IS-LM model, a change in money supply would have a known effect, such as a monetary expansion policy will result in a drop in the bond rate because the IS curve will remain constant. However, many previous studies did not show this effect, but instead the opposite; those that did show this effect, the magnitude of the shift was different than a traditional IS-LM model. Once the credit market is introduced into the IS-LM model, both the goods market (IS curve) and the money market (LM curve) will shift, resulting in an undetermined change in bond rate, and will also introduce the loan rate, which also shows an undetermined change. Under this model, when a monetary expansionary policy is in effect, it is possible that the bond rate could decrease, increase, or remain constant. This thesis will determine how the credit channel operates in Taiwan, using quarterly data from 1992Q1 to 2009Q4. The final result shows that under this new model, the credit channel in Taiwan does not necessarily follow the previously-known theory.
    Reference: Bernanke, Ben and Alan Blinder, “Credit, Money, and Aggregate Demand.” American Economic Review, May 1988. Vol. 78, 435-439.
    Bernanke, Ben and Alan Blinder, “The Federal Funds Rate and the Channels of Monetary Transmission.” American Economic Review, Sept. 1992. Vol. 82, No. 4, 901-921.
    Bernanke, Ben and Mark Gertler, “Inside the Black Box: The Credit Channel of Monetary Policy.” Journal of Economic Perspective, Autumn 1995. Vol. 9, No. 4. 27-48.
    Cottarelli, Carlo and Angeliki Kourelis. “Financial Structure, Bank Lending Rates, and the Transmission Mechanism of Monetary Policy.” International Monetary Fund Staff Papers, Dec. 1994. Vol. 41, No. 4. 587-623.
    De Bondt, G.J., 2000. “Financial Structure and Monetary Transmission in Europe.” Edward Elgar, Cheltenham, UK.
    Hannan, Timothy H. and Allen N. Berger. “The Rigidity of Prices: Evidence from the Banking Industry.” American Economic Review, Sept. 1991. Vol. 81, No. 4. 938-945.
    Holtemoller, Oliver, “Further VAR Evidence for the Effectiveness of a Credit Channel in Germany.” Applied Economics Quarterly 49, 2003. Vol. 4, 359–381.
    Hulsewig, Oliver and Eric Mayer, Timo Wollmerhauser, “Bank Loan Supply and Monetary Policy Transmission in Germany: An Assessment Based on Matching Impulse Responses.” Journal of Banking and Finance, 2006. Vol. 30, 2893-2910.
    Klein, Michael A., “A Theory of the Banking Firm.” Journal of Money, Credit, and Banking, May 1971. 205-218.
    Litterman, Robert B. and Laurence Weiss, "Money, Real Interest Rates, and Output: A Reinterpretation of Postwar U.S. Data," Econometrica, January 1985, Vol. 53, 129-156.
    McCallum, Bennett T., "A Reconsideration of Sims` Evidence Concerning
    26
    Monetarism," Economics Letters, 1983, Vol. 13 (2-3), 167-171.
    Sims, Christopher, "Macroeconomics and Reality," Econometrica, January 1980. Vol. 48, 1-48.
    何棟欽,2001年九月,「我國新台幣拆款利率與存、放款利率之關係」。中央銀行季刊,第二十三卷第三期。
    吳中書,陳立修,2004,「台灣總體經濟信用管道之探討」。2004年亞太地區域研討會。
    Data Sources
    Paper Sources
    準備貨幣(月底數)(1993) “中華民國台灣地區金融統計月報” 民國八十三年一月, 中央銀行經濟研究處, March 2010.
    準備貨幣(月底數)(1994) “中華民國台灣地區金融統計月報” 民國八十四年一月, 中央銀行經濟研究處, March 2010.
    準備貨幣(月底數)(1995) “中華民國台灣地區金融統計月報” 民國八十五年一月, 中央銀行經濟研究處, March 2010.
    準備貨幣(月底數)(1996) “中華民國台灣地區金融統計月報” 民國八十六年一月, 中央銀行經濟研究處, March 2010.
    準備貨幣(月底數) (1997) “中華民國台灣地區金融統計月報” 民國八十七年一月. 中央銀行經濟研究處, March 2010.
    準備貨幣(月底數) (1998/6) “中華民國台灣地區金融統計月報” 民國八十八年一月. 中央銀行經濟研究處, March 2010.
    Electronic Sources
    放款利率 (1992-2009), 中央銀行.
    27
    http://win.dgbas.gov.tw/dgbas03/bs7/calendar/calendar.asp?Page=1&Sel-Org=27&ShrField=ShrItm&KeyWrd=存款利率. [June 2010].
    國內生產毛額 (1992-2009), 行政院主計處. http://www.stat.gov.tw/lp.asp?ctNode=2404&CtUnit=1088&BaseDSD=7. [June 2010].
    準備貨幣(月底數)(1998/7-2009), 中央銀行經濟研究處. http://win.dgbas.gov.tw/dgbas03/bs7/calendar/calendar.asp?Page=1&Sel- Org=27&ShrField=ShrItm&KeyWrd=準備貨幣. [June 2010]
    拆款利率 (1992-2009), 中央銀行. http://win.dgbas.gov.tw/dgbas03/bs7/calendar/calendar.asp?Page=1&Sel- Org=27&ShrField=ShrItm&KeyWrd=拆款利率. [March 2010].
    Description: 碩士
    國立政治大學
    經濟學系
    97258008
    99
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0097258008
    Data Type: thesis
    Appears in Collections:[經濟學系] 學位論文

    Files in This Item:

    File SizeFormat
    800801.pdf558KbAdobe PDF2445View/Open


    All items in 政大典藏 are protected by copyright, with all rights reserved.


    社群 sharing

    著作權政策宣告 Copyright Announcement
    1.本網站之數位內容為國立政治大學所收錄之機構典藏,無償提供學術研究與公眾教育等公益性使用,惟仍請適度,合理使用本網站之內容,以尊重著作權人之權益。商業上之利用,則請先取得著作權人之授權。
    The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

    2.本網站之製作,已盡力防止侵害著作權人之權益,如仍發現本網站之數位內容有侵害著作權人權益情事者,請權利人通知本網站維護人員(nccur@nccu.edu.tw),維護人員將立即採取移除該數位著作等補救措施。
    NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.
    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library IR team Copyright ©   - Feedback