详情

　　今天小编为大家准备了金融考研复试专业英语汇总，希望对大家有所帮助,接下来跟小编一起来看一下吧。
　　Securitization and Subprime mortgage资产证券化与次级抵押贷款
　　(1)Subprime mortgagesare mortgages forborrowers with less-than-stellar credit records.
　　(2)Securitizationis the process oftransforming otherwise illiquid financial assets (such as residential mortgages,auto loans, and credit card receivables).
　　which have typically been the mainbusiness of banking institutions, into marketable capital market securities.
　　 What’s time-inconsistency problem?时间不一致问题
　　Thetime-inconsistency
　　problemis something we deal with continually in everyday life.
　　We often have a plan that weknow will produce a good outcome in the long run, but when tomorrow comes, we justcan't help ourselves and we deny our plan because doing so has short-run gains.
　　In other words, we find ourselves unable to consistently follow a good planover time, and the good plan is said to be time-inconsistent and will soon beabandoned .
　　 Political Business Cycle政治经济周期
　　Political business cycleisa process that can beillustrated in the followingexample. Just before an election, expansionary policies are pursued to lowerunemployment and interest rates.
　　After the election, the bad effects of thesepolicies.
　　that is high inflation and high interest rates, come home to roost, requiringcontractionary policies that politicians hope the public will forget before thenext election.
　　 What’s money multiplier and what are the factorsthat affect it?货币乘数及其影响因素？
　　(1)Themoney multiplier, denoted by m, tells us how much the moneysupply changes for a given change in themonetarybase.
　　The relationship between the money supply, the money multiplier andthe monetary base is described by the following equation: M = m×MB
　　(2)Themoney multiplieris a function of thecurrency ratioset by depositor c, theexcess reserves ratioset by banks e,and therequired reserve ratiosetby the Fed r. The money multiplier m is thus.