货币政策的论文模板英文翻译

Monetary policy on the economy of a country 's macro control an important and irreplaceable policy measures. In general, monetary policy through interest rates , credit, asset prices and other channels to act on investment, consumption and export three variables , and then play its regulating function of the real economy . Monetary policy transmission mechanism of monetary policy is a core issue , and its smooth or not directly related to the effectiveness of monetary policy . In recent years , China's economic and financial operation appears velocity of money slows down, SME financing , commercial bank credit crunch and other problems are related to the monetary policy transmission has a direct relationship . 2008 financial crisis, China has adopted a more relaxed monetary policy to stimulate the economy , although China's economy now does not exist " hard landing" of the risk, but the effect of monetary policy indeed been widely questioned . Also China is in the market economy system establishment and improvement process, monetary policy and macroeconomic environment is also undergoing micro foundation constantly change. Therefore, systematic study of the transmission mechanism of monetary policy has important practical significance. Because each observation angle and emphasize different factors , different schools of monetary policy transmission mechanism different understanding . One important mechanism is the emphasis on monetary policy transmission mechanism in banks in the important role that the bank lending channel . Whereas the Bank in financing the core position , especially as our other financing channels for enterprises mainly rely on bank indirect financing situation, research banks in monetary policy transmission role is particularly important. While the existing wealth of information about the credit transmission mechanism of monetary policy in the literature . However, most studies based on the assumption of homogeneity bank , select the macro perspective , mostly the use of macro aggregated data, research credit transmission mechanism of monetary policy in our existence and effect size. The effect of monetary policy on bank heterogeneity problem seriously enough . Since commercial banks in the asset size, liquidity, capital position , ownership and other aspects of heterogeneity in the effect of monetary policy changes in the total bank credit , but also may give rise to different bank credit supply response characteristic cross-section (Cross one section ) difference . Unified monetary policy effects on bank credit supply effects section , while weakening the central bank through bank credit transfer mechanism of the intensity channel conduction policy intentions , and may worsen the credit of efficiency of resource allocation . Therefore, we need further research bank monetary policy response differences , so as to depth to examine changes in monetary policy leading commercial bank portfolios adjustment structure effect , analyzing the reasons for the monetary policy transmission obstruction in order to improve the efficiency of monetary control . Article is based on the foundation of the expedition from the microscopic heterogeneity of bank credit transmission mechanism for monetary policy impact studies . This is an innovation that combines the company's financial and commercial bank governance , institutional economics and other related theories considered previously neglected the importance of the ownership structure , the ownership of the bank banking features introduced in the microscopic heterogeneity . Although there are a large number of existing research literature examines the individual characteristics of its commercial bank credit behavior , there are also direct study of literature and the ownership structure of commercial bank lending behavior relationship, but did not stand in the credit transmission mechanism of monetary policy on the footing , not involved in the ownership structure of bank credit for the monetary policy transmission channels of impact studies . In this paper, corporate finance and commercial banking-related theory to clarify the ownership structure of commercial bank credit expansion mechanism . The main contribution of this paper is that : From the theoretical innovation perspective , this paper explores the banks of microstructural features , especially considering the type of bank ownership and bank credit transmission mechanism of monetary policy theory behind the relationship between mechanisms . From government control and the bank's internal governance perspective for the microscopic mechanism of credit expansion to provide new theoretical support and analytical framework . From the research method is concerned, this paper takes the theoretical analysis and empirical analysis method of combining the use of the Bank of China empirical analysis of real data , specifically , the use of 31 eight-year time span bank panel data , the better covers structural characteristics of different banks , but also to maintain a sufficient number of samples , and measurement methods used empirical research . From a practical value in terms clarify the credit of monetary policy transmission channels blocked various specific reasons, the system of credit delivery channels of monetary policy influence blocking mechanisms to deepen our commercial banks for market-oriented reforms, monetary policy authorities to grasp the macro-economic management the reform ideas .希望可以帮到你，请采纳

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理论创新方面讲，本文探究了银行的微观结构特征，尤其是分银行类型考虑了银行所有权与货币政策信贷传递机制关系的背后理论机制。从政府控制和银行内部治理的视角为我国信贷扩张的微观机制提供新的理论支撑和分析框架。从研究方法来讲，本文采取的是理论分析和经验分析相结合的方法，利用中国银行现实数据进行经验分析，具体来说，采用31家银行8年时间跨度的面板数据，较好的涵盖了我国银行结构性特征的差异，也保持我们专业翻译 0.15元每字

货币政策中的科学