消费信贷的决定因素研究：基于文献的回顾【外文翻译】

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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