[ECON20151206]
宏觀經濟學研討會 （總第179期）

【時間】2015年4月22日（周三）12：15－13：45
【地點】明商0202教室
【主講】陳小亮  中國人民大學經濟學院
【主題】Shadow Banks and Macroeconomic Instability (written by Roland Meeks, Benjamin D Nelson, and Piergiorgio Alessandri, 2014)
【摘要】We develop a macroeconomic model in which commercial banks can offload risky loans to a ‘shadow’ banking sector, and financial intermediaries trade in securitised assets. We analyse the responses of aggregate activity, credit supply and credit spreads to business cycle and financial shocks. We find that: interactions and spillover effects between financial institutions affect credit dynamics; high leverage in the shadow banking system makes the economy excessively vulnerable to aggregate disturbances; and following a financial shock, stabilisation policy aimed solely at the securitisation markets is relatively ineffective.
【主持】陳彥斌 教授


人大宏觀經濟學研討會（Macro Workshop）旨在追蹤宏觀經濟學國際最新進展，倡導構建符合國情的動態優化模型，并使用計算機模擬研究經濟增長、收入分配和宏觀政策等中國宏觀經濟重大問題。


聯系人：郭豫媚    Email：Macro_Workshop@163.com
資料下載：www.docin.com/mydoc-88265459-1.html


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經濟學院 中國經濟改革與發展研究院