Research on Bank Risk-Taking Channels of Monetary Policy Under Liquidity Mechanism——From the Dual Perspectives of Assets and Liabilities
This paper expands the bank risk-taking channels of monetary policy from the asset side to the liability side based on the DLM model,and uses annual data of 107 commercial banks in China from 2007 to 2022 to systematically ex-amine the differences in the effects and mechanisms of risk-taking channels on the asset and liability sides.The results show that the loose monetary policy simultaneously promotes the risk taking on both the asset side and the liability side of banks,and the promotion effect is more significant in the small-scale banks.The liquidity transmission effect is an impor-tant transmission mechanism.There is a threshold effect on bank liquidity level in the risk-taking channel of monetary policy,but there is a difference between the asset and liability sides,that is,as the liquidity level increases,the positive impact of monetary policy on the risk taking of asset side shows a decreasing trend,while the positive impact on the liabil-ity side increases.
NETL
NSTL
万方数据
