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A comparative study of policy shock response effects based on the data algorithm of the DSGE model
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A comparative study of policy shock response effects based on the data algorithm of the DSGE model
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Journal Article
A comparative study of policy shock response effects based on the data algorithm of the DSGE model
2024
Overview
The degree to which the banking sector opens up will immediately impact the structure of the national financial system, which will then directly influence the transmission mechanism and effect of monetary policy because it is the fundamental link in the financial system. This study describes the DSGE model of two nations with heterogeneous banks in light of the disparities in global capital flows and loan restrictions between Chinese and foreign banks. DSGE stands for Dynamic Stochastic General Equilibrium. The results show that (1) foreign banks can lessen the net worth shocks of local banks when they are subject to negative shocks to their net worth by injecting international capital flows. (2) The buffer mechanism of foreign banks will obstruct the transmission of monetary policy and partially offset its policy effects. (3) The buffer mechanism of foreign banks has a more pronounced interference effect on monetary policy when facing negative shocks to their net worth. The management of foreign banks is increasingly loosening as China’s financial opening up quickens. The findings of this paper have policy implications for how to seize the dividends brought by financial openness and control the interference with monetary policy beyond the advantages of foreign banks in stabilizing economic fluctuations.
Publisher
Springer London,Springer Nature B.V
Subject
/ Buffers
/ Computational Biology/Bioinformatics
/ Computational Science and Engineering
/ Data Mining and Knowledge Discovery
/ Equity
/ Image Processing and Computer Vision
/ Probability and Statistics in Computer Science
/ Regulation of financial institutions
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