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ID:454680
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页数:19页
时间:2017-08-04
《消费信贷的决定因素研究:基于文献的回顾【外文翻译】》由会员上传分享,免费在线阅读,更多相关内容在学术论文-天天文库。
1、外文翻译TheDeterminantsofConsumerCredit:AReviewoftheLiteratureMaterialSource:ConsumerCreditinEuropeAuthor:DanielaVandone1IntroductionTheliteratureofconsumercreditissizeable.Suchabodyofworkreflectsnotonlythecompositenatureofunsecureddebt,butalsothefactthatdifferentmethodologicalapproachesexistdependi
2、ngontheresearchquestionsunderanalysisandtheobjectivessought.Fourmainapproachescanbeseen:amanagementapproach,whichfocusesonthecharacteristicsofthecreditindustry,itsworkingsandthepoliciesadoptedbysupply-sideplayers;alegalapproach,whichinvestigatestheimpacttheregulatoryframeworkhasoncompetitionandc
3、onsumerprotection;asocio-psychologicalapproach,whichanalyseshowindividualsareaffectedbyconsumptionbehaviourandindebtednesschoices;aneconomicapproach,whichforthemostpartconcentratesonthedeterminantsofthedemandforandsupplyofconsumercreditandonananalysisofthecharacteristicsofindividualsandhousehold
4、sindebt.Inthischapterwewilldiscusstheeconomicapproachwiththeaimofprovidinganoutlineoftheindividualandinstitutionalfactorsthatareconsideredintheliteratureasdeterminantsofconsumercredit.Theeconomicmodelsreferredtoarebasedontheeconomicrationalityofindividuals,whoseektoincreaselivingstandardsbysmoot
5、hingconsumptionoverdifferentperiodsoftheirlivesthroughsavingandborrowingdecisions.Accordingtothesemodels,consumercreditdemandandsupplyisdeterminedbyindividualfactors.2TheLife-CycleandPermanentIncomeTheoriesThetheoreticaleconomicframeworkforconsumption,savingandindebtednessdecisionsisdevelopedwit
6、hintheLife-Cycletheory,developedbyModiglianiandBrumbergin1954,andthePermanentIncomeHypothesis,proposedbyFriedmanin1957Althoughthetwotheoriesusedifferenteconomicmodels,bothenvisagesimilarconsumptionbehaviourpatterns.Forthepurposesofthiswork,therefore,thenamesofbothwillbeconsideredasequivalents..T
7、hecentralideaoftheseintertemporalconsumptionchoicemodelsisthat18householdsmaketheirconsumptionchoices(andconsequentlythoserelatingtosavingandindebtedness)onthebasisoftheirwealth,currentdisposableincomeandfutureincomeexpectat
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