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Shadow banking, implicit guarantees, and risk-taking

delete2025-11-24
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PRE
AI
S
Shen Guo
江政 封面图
江政 (Zheng Jiang) *
DOI:10.1017/S136510052510062Xdelete
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摘要

摘要

En 中文
本文研究了由监管套利和隐性担保驱动的中国影子银行崛起的福利影响。尽管影子银行可以通过放松银行扩张信贷能力的约束来提高社会福利,但由于隐性担保所引发的风险承担行为,它也可能损害社会福利。我们在一个平衡这些利弊的模型中研究了担保和影子银行的最优水平。我们的发现表明,降低现有的担保程度和收缩影子银行业务可能有助于提升中国的社会福利。
Keyword:
shadow banking
implicit guarantees
risk-taking
welfare
E44
G21
G23
G28

期刊

M
Macroeconomic Dynamics
IF:
0.8
论文数:
65
被引数:
1.3K

机构

C
central university of finance & economics
学者数:
1.8K
论文数: 2.0K
被引数: 2
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引用论文

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