Abolish the Mortgage Subsidy

Ian Gow, Minister of Housing, is faced with a market massively distorted by subsidies and controls imposed at the whim of earlier politicians. Mortgage subsidies, coupled with rent controls, have virtually abolished the rented sector, and have encouraged (at the taxpayer's expense) owner-occupancy among groups which would probably have preferred to rent. Tom Taylor, of the University of Wales Institute of Science and Technology, argues that the current system reduces choice in housing and that the mortgage subsidy should be abolished, replaced for the less well-off by a housing voucher.     

住房反向抵押贷款与传统抵押贷款的比较研究

在本文的论述中,首先对传统的住房抵押贷款和住房反向抵押贷款的概念进行了详细阐述,并对这二者的异同进行了对比分析,在此基础上对住房反向抵押贷款理论进行了相关解释。     

中欧神化的背后

当一个陌生人漫步在中欧国际工商学院（CEIBS）典雅优美的校园,赞叹这个走向世界管理学院前列的名校取得的优异成绩时,绝不会想到,它只有短短十多年的历史。更不会想到的是,为了取得这一优异成绩,许多中外热心人付出了多么大的努力。作为中欧创业团队的一员,李月庆的这本《中欧神话》．讲述了他心目中的中欧故事．为中欧创业史补上了一页。     

Beyond the Global City Concept and the Myth of ‘Command and Control’

The article argues that the lack of convincing empirical evidence for the global economy as being subject to ‘command and control’ results from that contention being a neo‐Marxist myth. First, imagining the global economy as being subject to ‘highly concentrated command’ through the function of some major cities as ‘strategic sites’ for the production of ‘command and control’ is traced back through several neo‐Marxist authors to narrate its genesis, and to argue that the lack of evidence for that proposition is a consequence of those antecedents envisioning capitalism as a totalizing structure, thus making the assumption that it is subject to control and coordination from a distance. Second, Taylor's interlocking world city network model is forensically examined to explain that it is fallacious because it is a structuralism that, bedevilled by a sorites paradox, contains the further problem of containing no credible evidence for the existence of ‘command centres’. Finally, the article moves beyond neo‐Marxism's key concepts by juxtaposing their assumptions with ethnographic results from social studies of finance, a manoeuvre which forges an understanding of cities as socio‐technical assemblages and eventful multiplicities, beyond, inter alia, the baseless assumption that the global economy is subject to ‘command and control’.     

房贷红灯高起

"要死一起死,银行肯定先死",在今年的亚洲博鳌论坛上,房地产界著名的"大嘴",北京华远集团总裁任志强再一次语出惊人,此话一出,业界顿时一片哗然。随着各地房市行情持续走低,开发商的资金链条开始紧绷,房地产最大的债主——银行再也坐不住了,不得不将房贷风险防范提上议事日程。     

大洋彼岸:房贷环境日趋严苛

正在中国房贷七折优惠政策开始全面推进之时,在大洋彼岸,次贷危机旋涡的中心--美国,购房者却正在经历一贷难求的艰难局面.……     

Mortgage credit conditions in the UK

It is widely perceived that credit conditions for UK consumers, particularly in the mortgage market, have been radically liberalized since the 1970s. The implications for the housing market and consumer spending have been important. This article by John Muellbauer draws on a 1997 paper by the author which examined data from the Survey of Mortgage Lenders to learn, from information about loan-to-value ratios of first-time buyers, classified by region, about changes in mortgage credit conditions. By controlling for economic and demographic influences on credit conditions, a single time-varying index of mortgage credit conditions was extracted from these SML data. This index rises in the 1980s, peaking towards the end of the decade. It retraces part of its rise in the early 1990s before rising again by 1995 to a level not far below the previous peak. The article considers whether more recent data suggest a further liberalisation of mortgage credit conditions. It draws on joint research with others to discuss possible implications for consumer spending, house prices, the volume of property transactions and mortgage defaults.     

住房逆抵押贷款定价分析

本文从住房逆抵押贷款具有期权产品特性出发,将布莱克一斯科尔斯期权定价模型运用于住房逆抵押贷款利率定价,将逆抵押贷款定价问题转换为隐含期权的定价问题,提供了独特的定价思路和方法,最终推导出住房逆抵押贷款的定价模型,并说明了该模型的使用方法.     

关于个人住房抵押贷款风险及防范策略的研究

我国个人住房抵押贷款虽然有了很大发展，但仍面临着各种风险。防范个人住房抵押贷款风险应该采取的策略主要有：进行房地产景气状况分析；实行用户资信评审制度；建立抵押贷款的保险和担保机制；实行住房抵押贷款证券化。     

The Myth of Formality in the Global North: Informality‐as‐Innovation in Dutch Governance

Why has urban informality in the global North received so little attention? We suggest that this neglect can be explained in part by the tendency of scholarship to reproduce the myth of Northern formality: the widely held belief that informality occurs only in corrupt and clientelist ‘developing countries’. This myth has allowed activities and connections that would generally be framed as clientelist or corrupt in the global South to be rebranded as policy innovation in Western Europe and North America. In this brief paper, we challenge the myth of Northern formality by focusing on two empirical cases of informality in Dutch governance that demonstrate how the state frames the toleration and deliberate use of informality as policy innovations. Specifically, we focus on strategic, uncodified and non‐transparent deviation from legal procedure in order to achieve compliance and/or effectiveness. Relying on ethnographic methods and secondary sources, we discuss firstly the governance of Amsterdam's red light district and secondly participatory infrastructure projects in the surrounding province of North Holland. The first case highlights the strategic non‐enforcement or non‐application of laws, while the second case points to the use of personalized relationships and non‐transparency in participatory governance.     

抵押房地产的公开市场价值、抵押价值及变现价值

在金融机构发放抵押贷款时,抵押房地产的价值是确定房地产抵押贷款的贷款额的一个重要参数。我国《房地产抵押估价指导意见》规定:房地产抵押估价采用公开市场价值标准,房地产抵押价值等于假定未设立法定优先受偿权利下的市场价值减去房地产估价师知悉的法定优先受偿款。但是,金融机构通过变卖或拍卖方式行使处置权和收益权得到变现净值或清算净值,因而金融机构房地产抵押所追求的是“变现净值”或“清算净值”标准,不是公开市场价值标准。所以,金融机构要防范金融风险,科学确定房地产抵押贷款的贷款额,就必须准确界定抵押房地产的市场价值、抵押价值和变现价值。     

TQM and BPR: Beyond the Beyond Myth

It is generally assumed in the popular management literature that the TQM (total quality management) and BPR (business process re-engineering) movements are the two latest expressions of an increasing sophistication in management techniques and principles. Following this logic it only is a matter of time before they will be superseded by yet another management innovation. This paper aims to explode this ‘beyond’ myth by exposing the underlying logic of TQM and BPR implementation patterns in two case companies. Empirical findings will be related back to critical approaches to the study of TQM and BPR. Concrete suggestions as to how to move beyond the quick fix managerial mode will be proposed. Our approach is intended to provide a counterweight to the unreflective discourse surrounding TQM and BPR by breaking open the naturalness of this discourse. It supplies a few landmarks for managers and researchers to take a step back, hesitate, and reflect on the phenomenon of planned organizational change.     

'Need': A Sociological Myth

Welfare economists have long been bamboozled by cries of 'need' from social workers and employees of local government 'services' Alex Cummins, Senior Lecturer in Social Policy, New College, Durham, reveals how the subjective term 'need' has been misused by politically motivated professionals to lasso increased government expenditure intended to help the under-privileged     

2. The Democratic Peace Myth: From Hiroshima to Baghdad

This paper examines the ideal of the democratic peace and the recent misuse of this ideal in the war on terrorism. It argues against the idea that aggressive military force can be employed to bring about the ideal of the democratic peace. By looking at John Stuart Mill's utilitarian justification of benevolent despotism for barbarians, it examines how idealism can lead to a defense of aggressive intervention. And it considers how idealistic zeal can lead to violations of just war principles, as in the case of Hiroshima. It concludes by arguing that Kant's deontological approach is better. Kant provides us with a reason to hope that as democracy spreads, peace will spread as well. But Kant also prohibits us from using force to actualize this ideal.     

住房反向抵押贷款研究综述

随着我国人口老龄化程度的不断加深,养老问题日益突出,而实施住房反向抵押贷款是一种有效地解决养老压力的方案.本文重点从住房反向抵押贷款的风险管理、产品定价和推广模式等方面对国内外的研究成果进行梳理,以促进该金融产品在国内的研究和推广.     

浅论对住房抵押贷款保险的认识

众所周知,购买住房消费是金额巨大且手续及为复杂的商品交易。对于相当大的一部分家庭来说,购买商品住房,仍然严重存在着资金不足的问题。住房抵押贷款的出现为房地产市场的发展注入了极大的活力,却无疑加大了贷款银行的风险。住房抵押贷款保险的出台使银行、房地产公司、保险公司和购房者均实现了"多赢",为推动房地产业的和谐发展作出了巨大的贡献。     

反向抵押贷款风险研究

反向抵押贷款作为一种金融产品,其核心问题是风险管理,但目前国内对于反向抵押款风险的研究仅仅停留在简单对国外文献的翻译上,并未结合中国实际进行具体分析.结合中国具体实际对反向抵押贷款中的三级风险作了详细分析,并对反向抵押贷款中的风险防范提了几点建议.     

社会性的迷思对大学教育属性的思考

大学教育的核心价值体现很大程度上应该取决于大学所体现的高等教育的社会性,但大学过于复杂的职能与色彩,掩盖和扰乱了其基础社会价值的体现;大学在普世价值和人类文明的基本社会组成的现实需求的满足这个过程中到底应该扮演何种角色,本文试图探索一二。