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。

SecuritizationandSubprimemortgage资产证券化与次级抵押贷款

(1)Subprimemortgagesaremortgagesforborrowerswithless-than-stellarcreditrecords.

(2)Securitizationistheprocessoftransformingotherwiseilliquidfinancialassets(suchasresidentialmortgages,autoloans,andcreditcardreceivables).

whichhavetypicallybeenthemainbusinessofbankinginstitutions,intomarketablecapitalmarketsecurities.

What’stime-inconsistencyproblem?时间不一致问题

Thetime-inconsistency

problemissomethingwedealwithcontinuallyineverydaylife.

Weoftenhaveaplanthatweknowwillproduceagoodoutcomeinthelongrun,butwhentomorrowcomes,wejustcan'thelpourselvesandwedenyourplanbecausedoingsohasshort-rungains.

Inotherwords,wefindourselvesunabletoconsistentlyfollowagoodplanovertime,andthegoodplanissaidtobetime-inconsistentandwillsoonbeabandoned.

PoliticalBusinessCycle政治经济周期

Politicalbusinesscycleisaprocessthatcanbeillustratedinthefollowingexample.Justbeforeanelection,expansionarypoliciesarepursuedtolowerunemploymentandinterestrates.

Aftertheelection,thebadeffectsofthesepolicies.

thatishighinflationandhighinterestrates,comehometoroost,requiringcontractionarypoliciesthatpoliticianshopethepublicwillforgetbeforethenextelection.

What’smoneymultiplierandwhatarethefactorsthataffectit?货币乘数及其影响因素？

(1)Themoneymultiplier,denotedbym,tellsushowmuchthemoneysupplychangesforagivenchangeinthemonetarybase.

Therelationshipbetweenthemoneysupply,themoneymultiplierandthemonetarybaseisdescribedbythefollowingequation:M=m×MB

(2)Themoneymultiplierisafunctionofthecurrencyratiosetbydepositorc,theexcessreservesratiosetbybankse,andtherequiredreserveratiosetbytheFedr.Themoneymultipliermisthus.