摘要
本文构建了一个五部门的理论框架,引入了异质性的资本投入品、差异化的碳减排机制及理性的气候政策预期,考察了气候政策冲击下银行资产负债的动态,揭示了货币政策和预期管理在其中发挥的作用。研究发现,气候政策的实施有利于加快经济绿色转型,但削弱了银行部门的盈利和抗风险能力;在实施气候政策的同时辅以实施绿色货币政策,能起到缓冲垫作用;银行部门气候政策预期管理能有效降低金融波动,提高自身经营稳定性。
This paper constructs a five-sector theoretical framework,introduces heterogeneous capital inputs,differentiat-ed carbon reduction mechanisms,and rational expectations of climate policy,examines the dynamics of bank assets and li-abilities under climate policy shocks and reveals the role of monetary policy and expectation management in this process.The study finds that implementing climate policies helps accelerate the economic green transformation,but weakens the profitability and risk resistance of the banking sector;implementing climate policies together with green monetary policies can act as a buffer;and the expectation management of climate-related policies by the banking sector can effectively re-duce financial fluctuations and enhance operational stability of the banks.
作者
袁征宇
蔡琦晟
YUAN Zheng-yu;CAI Qi-sheng
出处
《现代金融研究》
CSSCI
北大核心
2024年第11期25-35,69,共12页
Journal of modern finance
关键词
气候政策
绿色转型
商业银行
资产负债动态
climate policy
green transformation
commercial bank
asset-liability dynamics
