论美国次贷危机的传导机制

2007年7月，美国次级按揭贷款（以下简称次贷）引发了全球金融动荡，股市和汇市波动明显，主要金融市场呈现流动性不足。为维护金融稳定，各国中央银行纷纷出手救市。机构投资者和金融机构损失巨大，金融市场余波未定，实体经济衰退风险增大。尽管如此，投资者目前并不清楚还有多少损失没有暴露。有关次贷危机的许多问题值得我们深入思考。

Discussion about the Conduction Mechanism of the United States Loaning Crisis

In july 2007,U.S. sub-prime mortgage loans (hereinafter referred to as the loan-to-time) triggered a global financial in-stability,marked fluctuations in the stock and foreign exchange markets,major financial market liquidity shortage. For the mainte-nance of financial stability,central banks attempt to save their city. Six months later,institutional investors and financial institutions huge losses in the financial market repercussions have not been determined,increasing the risk of recession in the real ec...