金融深化对个体行为及其福利的影响分析
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财经研究 2010 年 第 36 卷第 06 期, 页码：15 - 26
摘要
参考文献
摘要
文章在无限期不确定的分析框架下,分析了金融市场发展程度等经济参数对利率、个体行为及其福利的影响。研究结果表明一国资本市场的不发达会导致该国预防性储蓄的增加和消费波动的增加,同时也会导致该国利率的降低和个体福利的减少。
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[6]王弟海,龚六堂.增长经济中的消费和储蓄——兼论中国高储蓄率的原因[J].金融研究,2007,(12):1-16.
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[9]郑海青.东亚消费风险分担的度量及潜在福利分析[J].财经研究,2008,(9):102-111.
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[11]Canova Fabio,Morten O Ravn.International consumption risk sharing[J].Interna-tional Economic Review,1996,37(3):573-601.
[12]Devereux Michael B,Allan Gregory,Gregor Smith.Realistic cross-country consump-tion correlations in a two-country real business cycle model[J].Journal of InternationalMoney and Finance,1992,11:3-16.
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[14]Koll mann Robert.Consumption,real exchange rates and the structure of internationalasset markets[J].Journal of International Money and Finance,1995,14(2):191-211.
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[17]Modigliani Franco,Shi Larry Cao.The Chinese saving puzzle and the life-cycle hy-pothesis[J].Journal of Economic Literature,2004,42(1):145-170.
[18]Obstfeld Maurice.Areindustrial-country consumption risks globally diversified?[R].Center for International and Development Economics Research(CIDER)Working Pa-pers C93-014,University of California at Berkeley,1993.
[19]Xu Xinpeng.Consumption risk-sharingin China[J].Economica,2008,(75)298:326-341.
[2]李焰.关于利率与我国居民储蓄关系的探讨[J].经济研究,1999,(11):39-46.
[3]李扬,般剑峰.中国高储蓄率问题探究——1992-2003年中国资金流表的分析[J].经济研究,2007,(6):14-26.
[4]刘建国.我国农户消费倾向偏低的原因分析[J].经济研究,1999,(3):52-65.
[5]世界银行.从贫困地区到贫困人群:中国扶贫议程的演进——中国贫困和不平等问题评估[EB/OL].世界银行网站,2009-03.
[6]王弟海,龚六堂.增长经济中的消费和储蓄——兼论中国高储蓄率的原因[J].金融研究,2007,(12):1-16.
[7]杨奎斯特,萨金特.递归宏观经济学[M].北京:中国人民大学出版社,2005.
[8]袁志刚,宋铮.城镇居民消费行为变异与我国经济增长[J].经济研究,1999,(11):20-29.
[9]郑海青.东亚消费风险分担的度量及潜在福利分析[J].财经研究,2008,(9):102-111.
[10]Abiad A,E Detragiache,T Tressel.A new database of financial reforms[R].I MFWorking Paper 07/XX,2007.
[11]Canova Fabio,Morten O Ravn.International consumption risk sharing[J].Interna-tional Economic Review,1996,37(3):573-601.
[12]Devereux Michael B,Allan Gregory,Gregor Smith.Realistic cross-country consump-tion correlations in a two-country real business cycle model[J].Journal of InternationalMoney and Finance,1992,11:3-16.
[13]Ho Chun-Yu,Wai-Yip Alex Ho,Dan Li.Consumption fluctuation and welfare:Evi-dence from China[Z].Second Review,World Development(SUBMITTED PAPERS),2008.
[14]Koll mann Robert.Consumption,real exchange rates and the structure of internationalasset markets[J].Journal of International Money and Finance,1995,14(2):191-211.
[15]McKinnon Ronald,Gunther Schnabl.China’s financial conundrum and global i mbal-ances[R].BIS Working Papers No 277,2009,March.
[16]Mendoza Enrique G,Vincenzo Quadrini,Jose-Victor Rios-Rull.Financial integration,financial development,and global i mbalances[J].Journal of Political Economy,2009,(117)3:371-416.
[17]Modigliani Franco,Shi Larry Cao.The Chinese saving puzzle and the life-cycle hy-pothesis[J].Journal of Economic Literature,2004,42(1):145-170.
[18]Obstfeld Maurice.Areindustrial-country consumption risks globally diversified?[R].Center for International and Development Economics Research(CIDER)Working Pa-pers C93-014,University of California at Berkeley,1993.
[19]Xu Xinpeng.Consumption risk-sharingin China[J].Economica,2008,(75)298:326-341.
引用本文
韩其恒, 李俊青. 金融深化对个体行为及其福利的影响分析[J]. 财经研究, 2010, 36(6): 15–26.
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