表外业务下的CB-LM模型研究——CC-LM模型的新发展

随着商业银行表外业务的迅速发展，经济中出现了一种“表内信贷表外化”的趋势，这一趋势导致我国货币政策调控面临着更加严峻的挑战。针对这一经济问题，本文在理论分析和数学建模的基础上构建起了更加符合我国国情的CB-LM模型。CB-LM模型的优点在于它用整体信贷的概念取代了CC-LM模型中表内信贷的概念，并且它还同时考虑了信贷市场、商品市场和货币市场的均衡。另外，通过经济学分析，我们发现CB-LM模型下货币政策对产出的影响比CC-LM模型下的影响更加强烈。CB-LM模型的构建将在一定程度上促进我国货币政策调控理论的发展。

The CB-LM Model Based on the Theo ry of OBS---The New Development of CC -LM Model

With the rapid development of commercial bank’s off balance sheet business , there has been a trend of “out of balance sheet of credit in the balance sheet” in the economy , which makes China’s financial regulation facing a more severe challenge . In view of this economic problem , this paper constructs a CB -LM model which is more in line with China’s national conditions on the basis of theo-retical analysis and mathematical modeling . The advantage of the CB-LM model is that it replaces the concept of credit in the CC -LM model with the concept of overall credit , and it also considers the equilibrium of credit market , commodity market and money market . In addition , through economic analysis , we find that the impact of monetary policy on output under the CB -LM model is more stronger than that of the CC-LM model . To some extent , the construction of CB -LM model will promote the development of the theory of monetary policy regulation .