经济周期与金融危机:金融加速器理论的现实解释

被引：34

作者：

何德旭 ^{[1
]}

张捷 ^{[2
]}

机构：

[1] 中国社会科学院数量经济与技术经济研究所

[2] 中国社会科学院研究生院

来源：

财经问题研究 | 2009年 / 10期

关键词：

金融加速器; 债务; 通货紧缩; 大萧条机制; 顺周期; 金融经济周期;

D O I：

10.19654/j.cnki.cjwtyj.2009.10.010

中图分类号：

F830 [金融、银行理论];

学科分类号：

摘要：

纵观人类的经济史,金融危机必然伴随着实体经济的剧烈波动甚至是严重的经济衰退,然而传统的周期理论却无法解释金融市场变化如何能够大幅度改变真实经济变量。伯南克等提出的"金融加速器"理论为理解金融市场在经济周期中的作用提供了一个很好的视角。本文在对金融加速器理论的思想源头和发展脉络进行梳理的基础上,对资产价格泡沫与产出波动、经济周期的非线性、非对称性特征以及信贷的超常增长与金融不稳定性的关系等现实问题基于金融加速器的视角进行了透视。随着现代经济表现出愈来愈明显的金融经济周期特征,有必要高度关注金融加速器效应对宏观经济政策的影响。

引用

页码：65 / 70

页数：6

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