时间：2015年3月22日（周二）13：30－15：00
地点：北大国家发展研究院 朗润园 万众楼小教室
主持人：霍德明 王敏 赵波
主讲人：Shen Guo (过深)

题目： Bank discrimination and heterogeneous monetary policy effects in China

摘要： We build a two-sector model consistent with three stylized facts in China: (i) the private-owned enterprises (POEs) face bank lending discrimination; with an expansionary monetary policy, (ii) real estate prices increase, and (iii) the output share of the state-owned enterprises (SOEs) increases. Embodying a financial accelerator mechanism, the model shows that the expansionary monetary policy boosts the real estate price and favors more the SOEs with a higher loan-to-value ratio, which leads to a rise of the SOEs’output share. In contrast, a similar model with the borrowing constraint solely on the POEs cannot generate such consistent predictions.

关键词： bank discrimination, credit constraints, state-owned enterprises, Chinese economy

主讲人简介： 过深，中央财经大学中国公共财政与政策研究院副教授。2009年获得加拿大Concordia University博士学位， 2003年获得加拿大York University硕士学位，1999年获得上海交通大学本科学位。研究领域为预期对经济波动的影响、货币政策等。（简历见附件） Shen_CV 2015