| 流动性与金融危机 |
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| 引用本文： | 陈筱彦,魏嶷,许勤.流动性与金融危机[J].同济大学学报(社会科学版),2010,21(1):105-112. |
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| 作者姓名： | 陈筱彦 魏嶷 许勤 |
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| 作者单位： | 1. 同济大学,经济与管理学院,上海,200092
2. 同济大学,中德学院,上海,200092 |
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| 摘 要： | 在此次美国次贷危机形成及其发展为全球金融危机的过程中,货币流动性、交易流动性和融资流动性构成的全面流动性扮演着关键角色。当政府的货币政策从宽松转为从紧,货币流动性出现不足;货币流动性不足将导致交易流动性恶化,交易流动性恶化则导致融资流动性问题;融资流动性问题又反馈影响到交易流动性;融资流动性和交易流动性的恶化又使得货币流动性不足的状况更加严重。三者如此相互作用,形成恶性循环,最终导致全面的流动性危机。
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| 关 键 词： | 货币流动性 交易流动性 融资流动性 金融危机 次贷危机 |
Money Liquidity, Funding Liquidity,Transaction Liquidity and Financial Crisis |
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| CHEN Xiao-yan,WEI Yi,XU Qin.Money Liquidity, Funding Liquidity,Transaction Liquidity and Financial Crisis[J].Journal of Tongji University(Social Science Section),2010,21(1):105-112. |
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| Authors: | CHEN Xiao-yan WEI Yi XU Qin |
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| Institution: | CHEN Xiao-yan1,WEI Yi1,XU Qin21. School of Economics , Management,Tongji University,Shanghai 200092,2. Sino-German School,China |
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| Abstract: | With money liquidity, transaction liquidity, funding liquidity and their interactions, this article analyzes the innovation of the sub-prime mortgage crisis and its transformation into the financial crisis. The findings show that as in other historical financial crises the overall liquidity meltdown is the direct cause. The default in sub-prime mortgage is just the fuse. Typically, as the money policy is getting tightened, money liquidity deteriorates, which will have great impact on transactions liquidity ... |
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| Keywords: | money liquidity transaction liquidity funding liquidity financial crisis sub-prime mortgage crisis |
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