讲座简介：

Interbank market plays a crucial role in the well-functioning of modern financial system. It facilitates the efficient allocation of liquidity, as well as the effective implementation of monetary policy. This paper proposes a disequilibrium model of interbank lending market. The model is built upon earlier work of Chiarella et al (2015) where bank's heterogeneous lending attitude is modelled in a Weidlich-Haag-Lux manner. The boom phase leads to credit over-expansion, which ultimately causes liquidity shortage in the interbank market during the downturn. The paper also considers the effectiveness of monetary policy, both under conventional and unconventional settings, in an Wicksellian manner.

主讲人简介：

智天皓，2009年在澳大利亚昆士兰大学获得国际经济金融硕士，师从Thanh Le博士以及著名中澳关系问题专家James Laurenceson教授。2016年在悉尼科技大学获得金融学博士，师从卡尔-齐瑞拉(Carl Chiarella)教授以及Corrado Di Guilmi博士。天皓曾在昆士兰大学以及悉尼科技大学任教，其研究兴趣包括非线性经济系统动力学、内生货币理论、后凯恩斯主义经济思想以及中国经济问题。他曾经在众多国际学术会议上宣读自己的论文，包括plenary conference for Institute of New Economic Thinking (INET) 2014 Toronto, Workshop of Economic Science with Heterogeneous Interaction Agent (WEHIA) 2013/2014 Reykjavik/Tianjin, Conference of Nonlinear Economic Dynamics (NED) 2013 Siena, Society of Heterodox Economics (SHE) conference 2015, Sydney。