打字猴:1.70343097e+09
1703430970
1703430971 [5]在计算过程中,最高和最低指的是信用评分分布顶层和底层20%的人群,被拒率截至1998年。
1703430972
1703430973 [6]Ben Bernanke,testimony on “The Economic Outlook” on October 20,2005,before the Joint Economic Committee,109th Congress.
1703430974
1703430975 [7]想获得计算的细节,可以参看Atif Mian and Amir Sufi ,“The Consequences of Mortgage Credit Expansion:Evidence from the U.S.Mortgage Default Crisis,” Quarterly Journal of Economics 124 (2009):1449-96。
1703430976
1703430977 [8]在现实中,债务论和动物精神论彼此并不是独立的。例如,债务可以允许那些拥有非理性信念的人购买房屋,这是我们在第8章中会强调的某种渠道。
1703430978
1703430979 [9]Edward Glaeser,Joseph Gyourko,and Albert Saiz,“Housing Supply and Housing Bubbles,” Journal of Urban Economics 64 (2008):198-217,本文提供了使用住房供给弹性来分析房地产市场泡沫多样性的动机。
1703430980
1703430981 [10]Mian and Sufi ,“Consequences of Mortgage Credit Expansion”; Albert Saiz,“The Geographic Determinants of Housing Supply,” Quarterly Journal of Economics 125 (2010):1253-96.
1703430982
1703430983 [11]为了与图6.2的y轴题例相匹配,我们有意识地使用了这个y轴便签,这样我们就可以对住房供给具有弹性和缺乏弹性的城市进行直接对比。
1703430984
1703430985 [12]信贷供给的持续扩张使那些已经拥有房屋的人想购买更大的房屋,但是这代表了人口的一小部分。
1703430986
1703430987 [13]Ron French and Mike Wilkinson,“Easy Money,Risky Loans Drive Area Home Losses; 70,000 Filings for Foreclosure in the Past Two Years,” Detroit News,November 27,2007。这篇文章提到柯克兰太太受到住房抵押贷款经纪人的欺骗,由于通过住房抵押贷款再融资,欠了一大笔债务。
1703430988
1703430989 [14]Atif Mian and Amir Sufi ,“House Prices,Home EquityBased Borrowing,and the U.S.Household Leverage Crisis,” American Economic Review 101 (2011):1232-56.
1703430990
1703430991 [15]Glenn Canner,Karen Dynan,and Wayne Passmore,“Mortgage Refinancing in 2001 and Early 2002,” Federal Reserve Bulletin 88,no.12 (2002):469-81.
1703430992
1703430993 [16]另外一些研究显示在信用卡和二手车销售方面也出现了相似的激进借贷行为。参见David Gross and Nicholas Souleles,“Do Liquidity Constraints and Interest Rates Matter for Consumer Behavior?:Evidence from Credit Card Data,” Quarterly Journal of Economics,no.117 (2002):149-85; and William Adams,Liran Einav,and Jonathan Levin,“Liquidity Constraints and Imperfect Information in Subprime Lending,” American Economic Review no.99 (2009):49-84。
1703430994
1703430995 [17]See,for example,R.H.Strotz,“Myopia and Inconsistency in Dynamic Utility Maximization,” Review of Economic Studies 3 (1955):165-80; E.S.Phelps and R.A.Pollak,“On SecondBest National Saving and GameEquilibrium Growth,” Review of Economic Studies 35 (1968):185-99; and David Laibson,“Golden Eggs and Hyperbolic Discounting,” Quarterly Journal of Economics 112 (1997):443-78.
1703430996
1703430997 [18]将借款约束理论与行为偏差观点区别开来仍然是家庭支出行为研究的最大挑战之一。主要问题在于在两种理论下观察到的行为几乎是一样的。尽管面临挑战,它仍然是宏观经济学领域最重要的课题之一,我们期望未来对这个问题的研究会取得进展。
1703430998
1703430999 第7章
1703431000
1703431001 [1]Laurids Lauridsen,“The Financial Crisis in Thailand:Causes,Conduct,and Consequences?” World Development 26 (1998):1575-91.
1703431002
1703431003 [2]Lester Thurow,“Asia:The Collapse and the Cure,” New York Review of Books,February5,1998.
1703431004
1703431005 [3]Ramon Moreno,“What Caused East Asia’s Financial Crisis?” Federal Reserve Bank of San Francisco Economic Letter 98-24,August 7,1998.
1703431006
1703431007 [4]Paul Krugman,“What Happened to Asia,” Mimeo,January 1998,http:/ /web.mit.edu/krugman/www/disinter.html.
1703431008
1703431009 [5]Franklin Allen and Joo Yun Hong,“Why Are There Global Imbalances?:The Case of Korea” (working paper 11-32,Wharton Financial Institutions Center,University of Pennsylvania,February 27,2011).
1703431010
1703431011 [6]Leon Kendall,“Securitization:A New Era in American Finance,” in A Primer on Securitization,ed.Leon Kendall and Michael Fishman (Cambridge,MA:MIT Press,2000).
1703431012
1703431013 [7]例如,可以参见 Claire Hill,“Who Were the Villains in the Subprime Crisis,and Why It Matters,” Entrepreneurial Business Law Journal 4 (2010):323-50。她提到:“20世纪90年代晚期,华尔街就开始对那些无法获得‘优质’信贷的借款人所获得的住房抵押贷款证券化。发放的这类住房抵押贷款在所有发放的住房抵押贷款中占比还是很小的,但情况很快发生了变化。”
1703431014
1703431015 [8]Adam Levitin and Susan Wachter,“Explaining the Housing Bubble,” Georgetown Law Journal 100 (2012):1177-258.
1703431016
1703431017 [9]Joshua Coval,Jakub Jurek,and Erik Stafford,“The Economics of Structured Finance,”Journal of Economic Perspectives 23 (2009):3-25.
1703431018
1703431019 [10]Coval,Jurek,and Stafford,“The Economics of Structured Finance.”
[ 上一页 ]  [ :1.70343097e+09 ]  [ 下一页 ]