基于消费效用函数论等额本金法和等额本息法的差异  

On the Difference Between Average Capital Plus Interest Method and Average Capital Method Based on Consumption Utility Function

作　　者：陈冠州 王禾 CHEN Guan-zhou;WANG He(School of Economics&Management,Wuyi University,Jiangmen 529020,China;Economy and Trade Department,Guangdong Nanfang Institute of Technology,Jiangmen 529000,China)

机构地区：[1]五邑大学经济管理学院,广东江门529020 [2]广东南方职业学院财经学院,广东江门529000

出　　处：《五邑大学学报（自然科学版）》2020年第4期47-52,共6页Journal of Wuyi University(Natural Science Edition)

摘　　要：为了解答特定贷款者更适合采用等额本金还款法还是等额本息还款法这一问题,建立了贷款者的消费效用模型并进行了数值模拟和比较静态分析.结果发现,相较于重视累积还款金额的传统研究,贷款者在进行选择还款方式的决策时还会明显受到收入、贷款额度、还款期限、风险厌恶程度以及耐性等因素的影响,未来消费平滑性使贷款者偏向于选择等额本息法.In order to solve the problem of whether the Average Capital Method or the Average Capital Plus Interest Method is suitable for a particular borrower,we established a consumption utility model for the borrower,and carried out numerical simulations and comparative static analyses.The results show that,compared with the traditional research which emphasizes the amount of accumulated repayments,the new model shows the borrower will be obviously affected by factors such as income,loan amount,repaymen t period,risk aversion and patience when making the decision of choosing repayment method.The future consumption smoothness will make the borrower prefer to the Average Capital Plus Interest Method.

关 键 词：按揭贷款 等额本金法 等额本息法 效用函数 现值法 比较静态分析 

分 类 号：F830[经济管理—金融学]