住房公积金贷款的风险与防范

住房公积金贷款是职工使用住房公积金的重要方式,具有其它使用方式无法比拟的优点。但住房公积金贷款制度在运作过程中也存在着一系列潜在风险。针对这些风险,主要应当从改革和完善委托贷款管理机制、完善贷款审批制度和贷款抵押管理、建立健全个人信用制度、构建贷款风险的政策化解机制等方面加强防范。     

关于执行《建造合同准则》的有关问题探析

针对执行《建造合同》中准则的三个实际问题提出一些处理建议,为对《建造合同》准则进一步完善起着积极作用,也为施工企业在执行准则中有关问题的会计核算提供参考。     

七级多指标识别模型在商业银行贷款风险防范中的实证研究

本文从商业银行的贷款实际业务中，设置了32个贷款风险因素指标，构建了七级风险模糊识别模型，力求用一套现代定量方法对商业银行贷款风险进行有效的识别，目的在于揭示受评对象未来偿付能力的大小，以及影响该能力的各种因素及其变化趋势，定量化分析受评对象贷款违约的可能性及其严重程度，从而对商业银行贷款质量得出评估意见。     

Loan price modelling for local governments using risk premium analysis

Previous studies have highlighted the question of government loan interest as one of great current importance. Government borrowing levels are high, and reducing interest payments would generate savings to meet other spending needs and/or to lower taxation, thus supporting the sustainability of public finances. However, no previous study has presented a method for a local government to calculate its own credit risk and thus be in a position to negotiate lower interest rates on its borrowing. This article defines a financial model that enables local governments to estimate the interest rate payable on a bank loan, based on their credit risk premium, in accordance with the Basel II rules and the findings of our empirical study of large local governments.     

汇率与股价波动研究——基于中国与日本高频数据的ARCH检验

次贷危机发生前，汇率与股指存在ARCH效应，且均有不对称信息的冲击，波动存在持续性的影响；次贷危机发生后，汇率与股价都不存在ARCH效应，系统性风险和非系统性风险暴露出来使得汇率对股市的波动影响降低，从而促进投资者风险得到有效对坤。     

对商业银行拓展优质个贷客户的思考——以黑龙江省建设银行为例

稳定并拓展优质客户是商业银行提高竞争力的手段之一,是商业银行立足之本。商业银行在拓展对公优质客户的同时,还必须拓展对私优质客户,拓展对私优质客户的关键是拓展优质个贷客户。     

后次贷危机视角下我国宏观调控政策的思考

通过对中美两国GDP等宏观经济指标数据进行数理分析，验证了美国经济波动对我国经济运行的影响，并详细论述了后次贷危机视角下我国重点领域将受到的影响。在借鉴经济理论、历史经验的基础上，从财政政策、货币政策、产业政策等方面，提出相应的宏观调控的政策建议。     

Bias in estimates of discrimination and default in mortgage lending: The effects of simultaneity and self-selection

The common practices of estimating single-equation models of mortgage rejection to test for discrimination in mortgage markets or single-equation ex ante mortgage default equations to validate underwriting criteria produce biased and inconsistent parameter estimates. This is due to problems of simultaneous equations bias which arise because, in a world of imperfect information, mortgage terms are not exogenous to the rejection or default decision. In addition, mortgage default estimates are also subject to selection bias. Monte Carlo experiments are used to study the nature and extent of likely bias in single-equation estimation results. We find that rejection equation estimates indicate discrimination when none exists and that estimated coefficients of mortgage terms, such as the loan-to-value ratio, are also subject to significant bias in both rejection and default equations.     

论我国住房抵押贷款证券化

本文以借鉴和运用资产证券化这一金融创新工具为出发点，论证我国实行住房抵押贷款证券化的必要性，并提出应采取的对策选择。     

Determinants of the ARM share of national and regional lending

We model the ARM share of mortgage lending and provide several unique contributions to the mortgage choice literature. First, we motivate the use of the price spread between fixed- and adjustable-rate credit as a regressor by constraining the effect of FRM and ARM prices to be symmetric and show that the data support this restriction. Second, our data span a far longer time period (six years) than previous research. Third, we estimate separate share equations by region, allowing us to contrast geographic variation in ARM shares. Fourth, we examine the effect of convertible ARMs—which became prevalent in mid-1987—on overall ARM lending.