重庆交通大学学报（社会科学版）2025，Vol.25Issue(5)：85-99,15.
"双支柱"调控框架下的传导渠道及效果
Study on the Transmission Channels and Effects under the"Dual Pillar"Regulatory Framework From the Perspective of Financial Efficiency
摘要
Abstract
This paper explores the effect of financial efficiency on the transmission effects of the"dual pillar"monetary policy and macroprudential policy.Firstly,based on the super-efficient SBM model to measure financial efficiency,and the benchmark regression model is used to verify the effectiveness of the"dual pillar"regulation.Then the panel threshold model is used to test the threshold effect of financial efficiency.The results show that financial efficiency significantly enhances policy transmission effects,and there is a significant difference between price based and quantity based monetary policies.Moreover,price based policy is more likely to exert its"amplification effect"through financial efficiency.In terms of regional heterogeneity,some prov-inces have financial efficiency lower than the minimum threshold requirement during policy implementation.Finally,based on the conclusion,corresponding policy recommendations are proposed,which also provides new perspectives and strategies for re-gional coordinated development.关键词
货币政策/宏观审慎政策/超效率SBM/金融效率/区域协调发展Key words
monetary policy/macroprudential policy/ultra-efficient SBM/financial efficiency/regional coordinated development分类
管理科学引用本文复制引用
万光彩,吴学虎.."双支柱"调控框架下的传导渠道及效果[J].重庆交通大学学报（社会科学版）,2025,25(5):85-99,15.基金项目
安徽省高校自然科学基金重大项目"房地产价格与城市全要素生产率:机制阐释与政策效应"(KJ2021ZD0054) （KJ2021ZD0054）
安徽财经大学研究生科研创新基金项目"双支柱调控框架下的金融效率研究——基于超效率数据包络分析"(ACYC2022401) （ACYC2022401）
