房地产贷款中的信息不充分及其风险

房地产市场价格波动之所以能够引起银行房地产信贷损失,甚至导致金融市场和宏观经济不稳定的后果,原因是由于房地产抵押贷款中存在的测不准风险或不确定性。本文从信息不充分的视角,提出了房地产抵押贷款中的测不准风险的定义,并分析了测不准风险的特性、形成原因和特殊后果。本文认为,减少或消除不必要的不可预见和不可描述的不确定性可能是管理房地产抵押贷款违约风险,提高贷款配置效率的最好途径,这对于分析房地产市场价格波动与金融市场、宏观经济的互动关系,防止房地产价格波动对金融业和宏观经济的冲击至关重要。

Information Inadequacy in Real Estate Mortgage and Its Risks

The main cause that the price volatility of real estate market can result in the loss of real estate credit of commercial banks and even the instability of the financial market and the macro-economy,lies in unpredictable risks or uncertainties in real estate mortgage.From the perspective of information inadequancy,this paper defines the unpredictable risk and analyzes its features, reasons and unique consequences.The conclusion is that reducing or eliminating unnecessary' unpredictable and undescribable un-...