CAJ | 학술논문

新凯恩斯主义者创造性地提出“多重平衡”概念来描述被先前经济学家过于简单化的信贷市场。新凯恩斯主义信贷配给论的信奉者提出，单纯考察利率机制过于简单化：在信贷市场的运行中，利率机制与配给机制同时发挥作用，市场存在多重均衡运行机制。由于信贷市场中的信息非对称性，利率的双重效应和贷款抵押给信贷配给造成重要的影响。新凯恩斯主义信贷配给论提出利率和贷款低押的选择效应的存在必会导致信贷市场出现信贷配给，进而导致信贷市场失灵。因此，政府干预信贷市场具有积极作用。中国货币政策的调控具有灵活性和时效性强的特点，为政府调控经济平稳快速发展发挥了积极的作用。结合中国国情，简要评述新凯恩斯主义的信贷配给理论的同时，对中国现在的银行信贷市场的发展进行分析，并提出了一些建议。
신개은사주의자창조성지제출“다중평형”개념래묘술피선전경제학가과우간단화적신대시장。신개은사주의신대배급론적신봉자제출，단순고찰리솔궤제과우간단화：재신대시장적운행중，리솔궤제여배급궤제동시발휘작용，시장존재다중균형운행궤제。유우신대시장중적신식비대칭성，리솔적쌍중효응화대관저압급신대배급조성중요적영향。신개은사주의신대배급론제출리솔화대관저압적선택효응적존재필회도치신대시장출현신대배급，진이도치신대시장실령。인차，정부간예신대시장구유적겁작용。중국화폐정책적조공구유령활성화시효성강적특점，위정부조공경제평은쾌속발전발휘료적겁적작용。결합중국국정，간요평술신개은사주의적신대배급이론적동시，대중국현재적은행신대시장적발전진행분석，병제출료일사건의。
New Keynesians creatively put forward the“multiple equilibrium”to describe the credit mar-ket,a concept oversimplified by previous economists.The New Keynesian advocates of credit rationing the-ory hold that simply examining the interest rate mechanism is over simplified:the interest rate mechanism and rationing mechanism play a role in the credit market simultaneously,and there exists operation mecha-nism of multiple equilibrium in the market.Because of asymmetric information in credit markets,both double effect of mortgage and loan,and interest rates have a significant impact on credit rationing.The ad-vocators of New Keynesian theory propose that these selection effects will lead to credit rationing in credit markets,and then the failure of these markets.Therefore,government intervention in the credit markets has a positive effect.China’s monetary policy has the characteristics of flexibility and timeliness so that the macro economy develops steadily and rapidly and government regulation has played a positive role.This pa-per briefly reviews new Keynesian theory of credit rationing and attempts to apply it to China’s national conditions and give suggestions to her current credit market.