Wpływ globalnego kryzysu bankowego na bankowość centralną

• Autorzy: Andrzej Sławiński

Warianty tytułu

The Impact of the Global Banking Crisis on Central Banking

• Języki publikacji: PL

Abstrakty

Decydujący wpływ kryzysu bankowego na skalę obecnej globalnej recesji pokazał, że system finansowy nie ma tak neutralnego wpływu na gospodarkę, jak zakładały to wcześniej modele DSGE. Włączenie systemów finansowych do modeli równowagi ogólnej okaże się jednak trudne ze względu na specyfikę działania systemów finansowych, którą charakteryzują krótkie horyzonty decyzyjne, istotna rola czynników behawioralnych oraz występowanie zjawisk nieliniowych. W wyniku doświadczeń obecnego kryzysu banki centralne będą częściej niż dotąd podwyższać stopy procentowe nie tylko, by stabilizować inflację, ale także, by przeciwstawiać się niestabilnym boomom kredytowym. Doświadczenia obecnego kryzysu mówią również, że samo podnoszenie stóp procentowych może nie wystarczyć, by zapobiegać niestabilnym boomom kredytowym. Dlatego zmieni się także charakter nadzoru bankowego, którego zadaniem stanie się nie tylko zapewnianie stabilności samych banków, ale także ochrona gospodarki przed nadmierną procyklicznością ich akcji kredytowej. (skrócony abstrakt oryginalny)

EN

The severity of the global recession resulted mainly from the large scale of the banking crisis. This illustrated that financial system did not have such neutral impact on the economy, as was assumed in the DSGE models. It will be difficult to include financial sectors into the general equilibrium models as the functioning of financial systems is characterized by short-time horizons, important role of the behavioral factors and non-linear dynamic properties. After the experiences of the recent crisis, central banks will use the interest rates policy not only to stabilize inflation, but also to tame unstable lending booms. However, the experiences of the recent crisis show that rising interest rates might not be sufficient to prevent boom-bust cycles. Thus, there is a necessity to change banking supervision not only to shield the stability of banks but also to hedge the economy against boom-bust cycles. (short original abstract)

Słowa kluczowe

PL

Kryzys bankowy; Nadzór bankowy; Polityka finansowa państwa; Banki centralne

EN

Banking crisis; Bank supervision; State financial policy; Central banks

• Czasopismo: Ekonomista
• Rocznik: 2010
• Numer: nr 2
• Strony: 145--162

Twórcy

autor

Andrzej Sławiński

• Szkoła Główna Handlowa w Warszawie

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