The transmission theory of credit channel of monetary policy in our country

Author: Fang Xiangcang
Publisher:
Publish Date: 2004-08-01
Features: From a logical perspective in the argumentation, this book, excluding the introduction, is divided into 8 chapters for discussion. The theoretical review and construction of the mathematical model in Chapter 1 serve as the foundation for the subsequent 7 chapters, demonstrating strong logical coherence. Chapter 1 provides a review and comparative analysis of theories on monetary policy and its transmission mechanisms, while also modeling behaviors such as household consumption, corporate investment, and bank credit, laying the groundwork for the later analysis. The following 7 chapters delve into in-depth arguments from perspectives such as consumption, investment, bank credit, financial markets, deflation, openness, and sustainable growth, integrating the theories and models from Chapter 1 to showcase the author's rigorous logical reasoning capabilities. This book investigates the micro-mechanisms of ineffective credit transmission mechanisms and the limited impact of monetary policy, broadening the scope of theoretical research on monetary policy in China. It represents a significant breakthrough in both theoretical research and practical application. It is particularly noteworthy that the author applies models such as the CC-LM model, credit game model, general equilibrium model of enterprises, households, and banks, as well as models where actual credit and environmental quality are endogenous to economic growth and the IS-LM model, to study China's monetary policy issues. This constitutes a bold and valuable attempt in theory, offering a beneficial supplement to monetary policy theory and demonstrating innovation, making it commendable.