重大突发公共卫生事件冲击下的全球金融风险溢出及其管理研究

新冠肺炎已对全球金融市场乃至全球经济产生重大冲击，可以预见这种冲击还将会继续。而在理论上对这种非传统金融风险的冲击研究较少，甚至是空白，因此本项目研究意义非常重大。本项目重点探讨重大突发公共卫生事件对金融风险溢出的影响及其风险管理：（1）股票市场风险溢出效应及其风险管理，从全球股票市场异常波动、系统性风险传导路径以及风险管理的角度进行深入分析；（2）外汇市场风险溢出效应及其管理，将通过精确定量分析主要货币汇率波动风险、溢出效应风险；（3）货币市场风险溢出效应及其管理，将拓展已有的DSGE模型，通过信贷规模、市场利率以及财政与货币政策调控的角度，分析货币市场风险溢出效应；（4）全球风险管理的政策协调，将从G20峰会机制、国际货币合作及全球金融工具创新等角度进行阐述，并对全球政策协调如何抑制系统性金融风险溢出展开深入研究。在此基础上探析应对这些风险溢出的具体的风险管理政策与措施。

COVID-19 has a major shock on global financial markets and even the global economy, and it is foreseeable that the impact will continue. In theory, there are few studies on the impact of such non-traditional financial risks, or even blank, so the research of this project is crucial.Therefore, this project is intended to be developed from the following four aspects: (1) The risk spillover effect of the stock market, this project will pay attention to the abnormal fluctuations in the global stock market, systemic risk transmission paths and risk management; (2) The risk spillover effect of foreign exchange market, this project will analyze foreign exchange fluctuation risk and its spillover risk;(3) The risk currency market risk spillover effect, this project will expand the existing DSGE model, through credit scale, market interest rates, and fiscal and monetary policy, and analyze the risk spillover effect of the currency market to provide recommendations for corresponding policies; (4) Policy cooperation for global risk management. From the perspectives of the G20 summit mechanism, international currency cooperation, and innovation of global financial instruments, this project will find out how global policy cooperation can resolve systemic financial risk spillovers.