报告人：王皓（吉林大学）

时间：2022年11月24日 14：00-

腾讯会议ID：763 774 771  密码：123456

摘要：This research investigates the role that China’s monetary policy has played in maintaining financial stability after crises in the 21st century. We construct a financial stability index (FSI) with eight variables from four characteristics that reflect variations in the financial stability of China, and analyze the dynamic impacts of China’s monetary policies on financial stability with a time-varying parameter vector-autoregressive (TVP-VAR) model. The three major crises that China has been involved in the past 15 years (i.e., the 2008 global financial crisis, 2015 stock market crash in China, and the ongoing COVID-19 crisis) indicate that the scale of social financing, stock market performance, and the degree of financial deepening in China have great influences on financial stability. We observe supportive evidence, moreover, that both quantitative and price-based monetary policies can promote financial stability after crises in China, especially in the short term. The quantitative policy is more effective than price-based monetary policy and has become the main policy tool in China. At a time when the world economy is still suffering from the COVID-19 crisis, the quick economic recovery is an imperative task for all countries. It is of great theoretical and practical significance to understand the relationship between monetary policy and financial stability after crises.

简介：王皓，吉林大学经济学院副教授，意大利罗马大学经济学博士，吉林大学“匡亚明学者”青年学者，吉林大学教育部国别与区域研究备案中心欧洲研究所副所长，吉林大学量化金融研究中心副主任，吉林大学“一带一路”研究中心研究员。2021年入选吉林大学“励新优秀青年教师培养计划”。主要从事数字经济、国际金融、衍生品理论与实务相关研究。近年来，在《Economic Modelling》、《Expert Systems With Applications》、《Finance Research Letters》、《Pacific-basin Finance Journal》、《Emerging Markets Finance and Trade》、《中国社会科学报》、《东北亚论坛》、《亚太经济》、《经济问题》、《现代日本经济》等核心期刊等共发表中英文论文二十余篇，多篇政策咨询报告获相关部门重要批示；主持中国博士后科学基金面上项目、吉林省社会科学基金（一般项目）、吉林省教育厅社会科学项目（重点项目）等省部级项目5项，校级项目12项，横向课题1项。曾获吉林大学优秀博士后奖，吉林大学本科课堂教学质量“优秀奖”，吉林大学“青年教师教学水平大赛”二等奖。

邀请人：李曼曼

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