报告人：许志伟
时间：2021年5月28日上午10:00-12:00
地点：信息楼405
【内容摘要】
We study the impact of China’s 2013 implementation of Basel III on bank risk-taking and its responses to monetary policy shocks using confidential loan-level data from a large Chinese bank. Guided by theory, we use a difference-in-difference identification, exploiting cross-sectional differences in lending behaviors between high risk and low-risk bank branches before and after the new regulations. We find that, through a risk-weighting channel, changes in regulations significantly reduced bank risk-taking, both on average and conditional on monetary policy easing. However, banks reduce risk-taking by increasing lending to ostensibly low-risk state-owned enterprises (SOEs) under government guarantees, despite their low average productivity.
【报告人简介】
许志伟：上海交通大学安泰经济与管理学院经济系长聘副教授（博士生导师），毕业于香港科技大学经济系，获经济学博士学位，主要研究研究领域为宏观金融、货币政策以及经济波动。主持国家自科青年基金、优秀青年基金等项目。获2016浦山世界经济青年论文奖、2020中国信息经济学会优秀成果奖等奖项。主要论文发表在《American Economic Journal： Macro》、《Economic Journal》、《Journal of Economic Theory》、《Journal of Economic Dynamics and Control》、《Review of Economic Dynamics》、《Quantitative Economics》以及《经济研究》、《管理世界》等国内外期刊。
