价格型和数量型货币政策与商业银行盈利能力  

The Price-Based and Quantity-Based Monetary Policies and the Profitability of Commercial Banks

作　　者：张艾莲[1] 代雪雅 ZHANG Ai-lian;DAI Xue-ya

机构地区：[1]吉林大学数量经济研究中心、商学院,长春130012 [2]山东大学经济学院

出　　处：《金融论坛》2021年第1期49-58,共10页Finance Forum

基　　金：国家社会科学基金项目“金融市场开放环境下的金融风险生成逻辑、风险测度和防范机制研究”(18BJY232)。

摘　　要：本文分析价格型和数量型货币政策对商业银行盈利能力的影响。实证结果表明,价格型和数量型货币政策对银行盈利能力的影响方向和程度各不相同,不同类型货币政策的共同实施会产生叠加作用;无论是基于收益获取还是套期保值,利率衍生品的使用确实增加银行的非利息收入,而货币政策的作用并不十分显著。因此,货币政策实施要细化不同的政策类型且要注意政策影响的方向;在开发和创新利率衍生品时准确定价并提高衍生品的使用效率。This paper analyzes the impacts of price-based and quantity-based monetary policies on the profitability of commercial banks. The empirical results show that the direction and extent of the impacts of price-based monetary policy on the profitability are different from those of the quantity-based monetary policy, and the joint implementation of different type of monetary policy has a superimposed effect;whether it is based on income acquisition or hedging, the interest rate derivatives indeed increase the non-interest income of banks, while the effect of monetary policy is not very significant.Therefore, the implemented monetary policies should be classified into different types and the direction of policy effect should be given attention;the price should accurately priced and the efficiency should be improved while developing and innovating interest rate derivatives.

关 键 词：价格型货币政策 数量型货币政策 银行盈利能力 利率衍生品 

分 类 号：E4[军事—军事理论] G2[文化科学]