有限理性、房地产市场波动与金融稳定  

Bounded Rationality,Fluctuation of Real Estate Market and Financial Stability

作　　者：项银涛[1] 

机构地区：[1]中国人民银行营业管理部,北京100045

出　　处：《上海金融》2011年第6期20-27,共8页Shanghai Finance

摘　　要：本文认为,房地产市场波动对金融稳定影响的根本原因在于房地产市场存在有限理性。房地产市场有限理性包括三个方面,分别是投资者有限理性、房地产开发商有限理性和金融机构有限理性。在此基础上,本文通过构造房地产市场有限理性,论证了房地产市场波动对金融稳定的影响过程。The article argues that bounded rationality in real estate market is the root reason why the fluctuation of real estate market will influence financial stability.The bounded rationality in real estate market is reflected in investors,real estate developers and financial institutions.On this basis,the article expounds the influencing process of fluctuation of real estate market on financial stability by constructing bounded rationality in real estate market.

关 键 词：有限理性 房地产市场 金融稳定 

分 类 号：F830[经济管理—金融学]