bank funding markets.Chinese Abstract: 作者们在本文中考量中国商业信用的准入及分配、提供给储户的投资选择以及中国的银行的有效融资选择。笔者强调由于银行把储户资金投入缺乏披露的表外贷款、遵循各类政治诱因、将中小企业及微小企业的借贷控制下放给影子金融家，从而导致的市场的内在缺陷、惊人的外部效应以及潜力巨大的道德风险。文章最终唤起对中国信贷、储蓄及银行融资市场的创新和实践改革的行动。 …

, the central bank should conduct a certain level of macro-prudential management of cross-border capital flow. Based on this … model and recent practices of The People's Bank of China, we also present the New Macro-Financial Policy Framework (New MFPF … by adopting this three-pronged strategy, the central bank could attain macroeconomic equilibrium …

This paper investigates whether distributional effect arising from the impact of monetary policy on bank credits will …. First of all, we investigate whether there exist the distributional effects of monetary policy on bank lending behavior … which is associated with bank balance sheet characteristics, such as asset size and liquidity strength. In other words, we …