English  |  正體中文  |  简体中文  |  Post-Print筆數 : 27 |  Items with full text/Total items : 109951/140887 (78%)
Visitors : 46277199      Online Users : 1387
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
    Home ‧ Login ‧ Upload ‧ Help ‧ About ‧ Administer Goto mobile version


    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/61072


    Title: 經濟開放性對於金融危機之意涵
    Other Titles: Implications of Economic Openness for Financial Crises
    Authors: 黃俞寧;楊馥珉
    Hwang,Yu-Ning;Yang,Fu-Min
    Contributors: 政大經濟系
    Keywords: 金融風暴;彈性匯率;經濟開放性;信用傳遞機制
    Credit Channel;External Financial Premium;Flexible Exchange Rate;Financial Crisis
    Date: 2010-04
    Issue Date: 2013-09-17 15:27:52 (UTC+8)
    Abstract: 自2007年起，肇因於美國的次級房貸風暴，透過國際金融市場迅速擴散到全球，使得世界各國重新檢視貿易全球化之利弊。本文籍由一小型開放經濟體系之動態一般均衡(dynamic stochastic general equilibrium, DSGE)模型，探討在一開放經濟體系下，匯率彈性與經濟開放程度與信用市場失靈而致之金融危機之間的關係。為探討信用市場，我們在模型中引入銀行部門，籍以刻劃銀行體系對於審慎監瞥放款之缺乏，亦即歷年金融風暴乃至次級房貸風暴之共同成因；並籍由模擬校準(calibration)，對此議題進行數值化的分析。模擬結果顯示，對於銀行放款生產力的衝擊將使本國債券利率上升，進而造成本國貨幣升值，產出下降。此外，匯率的波動將擴大金融風暴對於實質部門的負面影響，且其影響力會隨著經濟开放程度增加而上升。
    The objective of this study is to examine how exchange rate flexibility and economic openness influence the transmission of financial shock in the credit market. To illustrate the failure of cautious monitoring for loans (the common cause of historical financial crises as well as the 2007 subprime crisis that spread rapidly through globalization), we perform a quantitative examination by calibration a dynamic stochastic general equilibrium (DSGE) model with costly loan-making in a small open economy. The numerical results show that the shock to the bank’s productivity in the loan-making drives up the home bond rate, which causes the home currency to appreciate, thereby reducing production. In summary, the floating exchange rate amplifies the adverse effect of financial shock on the real sector, and its influence rises with the degree of openness.
    Relation: 社會科學論叢, 4(1), 52-73
    Data Type: article
    Appears in Collections:[經濟學系] 期刊論文

    Files in This Item:

    File Description SizeFormat
    415273.pdf3650KbAdobe PDF2798View/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