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求一篇英文文献
银行个人房贷信用风险的英文文献
ct of credit risk, off-balance sheet activities, and international operations
Fotios Pasiouras - Research in International Business and Finance - 22 (3) -
...investigate the efficiency of the Greek commercial banking industry over the period ....Our results indicate that the inclusion of loan loss provisions as an input increases the ...
英文文章倒是多。可看楼主需要那方面。
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求关于信用卡的英文文献需要跟信用卡营销相关的英文文献,可以不用中文翻译,只要英文就可以了,最好能有有文章作者.3000字左右
求关于信用卡的英文文献需要跟信用卡营销相关的英文文献,可以不用中文翻译,只要英文就可以了,最好能有有文章作者.3000字左右
TOPIC 1: Adverse Selection in the Credit Card Market (信用卡市场的逆向选择)作者及写作年份:Lawrence M. Ausubel June 17, 1999部分摘要:trading situations where one (informed) party possesses information which is relevant to his (uninformed)trading partner, the informed party may find it advantageous to engage in trade only in states of informationwhich are relatively unfavorable from the viewpoint of the uninformed party. Thus, a firm which offers acontract to the general population may find that the composition of the pool of customers who accept thefirm's contract is inferior to the composition of the general population. The particular contractual termsoffered by the firm may influence the composition of the customer pool and, in some informationalenvironments, adverse selection may lead to a complete unraveling of the market (George A. Akerlof,1970).Many of the economically-richest implications of adverse selection have been drawn in creditmarkets. High interest rates charged to borrowers may induce adverse selection on default probability,leading banks to engage in credit rationing in high-interest environments (Joseph E. Stiglitz and AndrewWeiss, 1981). Competition along particular dimensions in credit card pricing may result in adverseselection, blunting the usual effects of competition, and contributing to sticky interest rates and extranormalprofits (Lawrence M. Ausubel, 1991). And, when borrowers have the opportunity to engage in signalingbehavior, the same structure of asymmetric information as in adverse selection models yields signalingstories which have important implications for corporate investment and the capital structure of firms (see,for example, Sudipto Bhattacharya, 1979, and Stewart C. Myers and Nicholas S. Majluf, 1984).Yet despite a burgeoning economics and finance literature consisting of literally hundreds of articlesexploring the implications of adverse selection in credit markets, there remains little in the way of empiricalstudies which convincingly document the existence of adverse selection in credit markets as a real-worldphenomenon. The objective of the current paper is to present compelling direct evidence of adverseselection in one specific credit market.The stakes in such an empirical exercise are quite considerable. It is frequently argued that virtuallyany conclusion may be reached from a suitably-chosen economic model of incomplete information.However, to the extent that adverse selection can be shown to be a genuine empirical phenomenon in creditmarkets, then we can have confidence that at least one important component 阅读全文PDF格式: http://www.bsos.umd.edu/econ/bankruptcy/adverse.pdf阅读全文word格式: http://66.102.1.104/scholar?num=50&hl=en&lr=&q=cache:2f3mYpRpwgYJ:www.bsos.umd.edu/econ/bankruptcy/adverse.pdf+Adverse+Selection+in+the+Credit+Card+MarketTOPIC 2: Consumer Search Behavior in the ChangingCredit Card Market (不断变化的信用卡市场中,消费者的行为研究)作者及写作时间:Sougata Kerr & Lucia DunnSeptember 2002 部分摘要:Credit card balance switching has become an important issue in the banking community as cardholders seek to move their revolving credit to the lowest-cost lenders. This kind of “search and switch” behavior would be expected to put downward pressure on credit card interest rates. Previous research on the credit card market focused on why its interest rates persisted at levels greater than those for other types of consumer loans, and one explanation put forward was the inhibiting nature of high search costs in this market, especially for large-balance cardholders whose probability of credit rejection is high. Recent developments in the credit card industry – in particular the Truth-in-Lending Act of 1988 together with a large increase in direct solicitations – have changed the environment of this market substantially. Because of this new environment, as well as improvements in data availability, the issue of credit card search needs to be revisited. The current paper identifies those consumers whose probability of rejection is high and tests whether this probability has any impact on their search propensities. It does this by analyzing (i) the effect of large balances on the consumer’s probability of credit application rejection and (ii) how these factors – large balances and rejection probability –affect consumers’ search propensities. In testing the search-cost hypothesis, the issue of endogeneity between consumers’ search and the likelihood of rejection is dealt with by estimating a simultaneous equations model. The results presented here show no evidence that search costs deter consumer interest rate search in the credit card market of the 1990s, either for high-balance. This is officially known as the Fair Credit and Charge Card Disclosure Act of 1988. cardholders with a greater probability of rejection or for low-balance cardholders. In the next section we review the relevant literature on this market and discuss recent changes in the market environment. Section III discusses our methodology and improvements in the recent data. Section IV presents our results. Finally, Section V concludes by summarizing our find....阅读全文PDF格式: http://www.econ.ohio-state.edu/pdf/ldunn/wp02-03.pdf阅读全文word格式: http://66.102.9.104/search?q=cache:CL_NcOSxp84J:www.econ.ohio-state.edu/pdf/ldunn/wp02-03.pdf+%22Ausubel%22+%22Credit+Card+Defaults%22&hl=en&ct=clnk&cd=14&gl=uk您还未登陆，请登录后操作！
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通常需要某种类型的昂贵的套期保值活动由银行。同时，这是不难想象的情况下，贷款利率平滑，降低成本。例如，在一个stiglitz-weiss式的世界，在高贷款利率的提高
启发式的目的可能有助于组织我们的思维在假设模式的成本和利润。有效收缩假说认为，贷款利率平滑的结果一个最优契约之间的借款人和银行。贷款利率平滑可能是最佳选择，因为一些原因。清算费用减少（柏林和主人，1997）或避免信贷配给（彼得森和詹，1995）原因已提供的贷款利率平滑反应不良信用风险冲击。油炸和豪伊特（1980）提供了一个正式的模型认为，贷款利率平滑的一部分作为一个最优契约为规避风险公司面临的利率风险。无论动机一是强调，如果贷款利率平滑方面的关系型贷款是宝贵的借款人，那么它可能会带来利润的银行，只要贷款市场的不完全竞争。因此，我们预期银行具有较高的平滑程度会更有利可图的预测效率订约成本是不那么简单。从某种程度上说，银行可以提供平滑率并保持盈利在同一时间只能通过扩大资源的实际，我们可能期望银行具有较高程度的平滑有较高的成本。例如，贷款利率优惠时间信用风险高可能需要昂贵的监测，确定这些企业将生存支付率在好时代。并提供利率风险通常需要某种类型的昂贵的套期保值活动由银行。同时，这是不难想象的情况下，贷款利率平滑，降低成本。例如，在一个stiglitz-weiss式的世界，在高贷款利率的提高企业的激励采取低效的风险，不同的银行可能反应不同高度的市场利率。一家银行可能代价高昂的监测克服信息不对称而另一个可能保持低利率，减少企业的奖励冒险。这类型的银行将有平滑率和更低的成本比第一种类型的银行。
一种假说有更明确的支持之间的从业人员和商业新闻比在学术文献。按照这种观点，许多银行贷款practices-including平滑的贷款rates-are低效的。4在一个典型的声明，从以前的专栏作家，美国银行家，换句话说，银行正在觉醒的事实，他们已滥和因此疏远那些提供最高风险调整后的收益和那些谁产生回报低于填充不足贴现率。否则，在大多数银行，更好的客户已资助较贫穷的国家。&（玫瑰，1990）这crosssubsidization是一个有效的跨协议，如彼得森和詹（1995），但反映了不正确的定价，只是其中的许多过时的银行做法，蓬勃发展，在保护和非竞争性市场。我们称这种观点低效定价假设。5暗示这个观点是银行家谁得到他的贷款利率（即，不平滑）应该增加利润。因此，平滑应与低利润。
其含义低效定价之间的关系的平滑和成本也含糊不清。在一个视图，贷款利率，不完全反映违约风险只是其中的一个主机效率低下所引起的受保护的市场，这将导致我们预期的积极关系，平滑和成本。另外，简单的规则拇指说背后的效率低下的银行贷款定价
可能是成本较低的比更敏感的机制分配借款人适当的风险类别。按照这种观点，成本可降低银行做更加平滑，至少在短期内。总结前：根据缔约效率假说，我们预期贷款利率平滑是呈正相关的利润，而根据低效定价假说，我们预期贷款利率平滑是负相关的利润。有没有明确的预测之间的关系贷款利率平滑和成本。（然而，信息之间的经验关系平滑和费用应产量信息来源的影响利润，即，无论是通过税收或费用。）
我们认为明确的可能性之间的关系的平滑和利润或成本会随时间变化，关系可能不同银行不同尺寸。例如，更大的liability-side竞争（如在柏林和主人，1997）或更大的asset-side竞争（如彼得森和詹，1995）将使关系型贷款越来越可行的时间。与其他许多观察员，我们认为80年代作为一个时期增加竞争。调查结果符合有效合同
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求一篇关于CPLD的英文文献翻译
求一篇关于CPLD的英文文献翻译
Reliability Processing Of The Circuits In CPLD Design Abstract:This paper studies on the elimination of the competitive and narrow pulse interference and on the reliability of the reset circuit in CPLD design .Methods of additional trigger ,delay superposition ,and larger loop feedback are introduced .The corresponding examples are discussed detailedly .The reliability problems of the circuits in CPLD design are solved effectively .CPLD has been widely used in the design of electronic circuits and system because of its flexibility ,modifiability ,and short development cycle .There inevitably exist unreliable factors in CPLD design such as competitive interference ,narrow pulse interference ,and false tigger [1 .This paper studies the reliability problems by examples and introduces corresponding process methods .The results are satisfied.Ⅰ.Anti-interference Design of Complicated Circuits A complicated pulse signal generator can be implemented in block diagram as shown in fig..1.Where ,all blocks can be integrated in CPLD except the waveform data storage ,in which all turn time and corresponding state are stored.An EPROM can be used ,two bytes for each turn time and state .The active crystal oscillator is usually used for CPLD as the clock signal ,because its frequency is high,the divider is necessary to reduce the clock signal to an allowed frequency .Counter Ⅰis a timer unit in each period.Counter Ⅱ is a address pointer ,indicating the address to be accessed currently .The date latch records the turn of the output signal.The encoder produces the triggering signals of the data latch an the state latch.The periodic control signal is reset of the divider and two counters,and is clock of additive counter to control high address of the EPROM if the output signal is different between periodic.Counter Ⅰ counts from 0 to each periodic .When its counted value equals the data in the data latch ,the output of the comparer turns high level,and the output trigger is triggered,he output signal turns following the output of the state latch.At the same time,the NAND gate opens,the clock signal acts on the counter Ⅱand the encoder .At the rising edge,the counter Ⅱplus by Ⅰ,the data latch and state latch lock mew data,the next turn time and state from ERROM .The output of the comparer recovers low level.An output signal turn and data preset completed.Apparently ,as long as the time and the state for each turn is preset in the waveform data storage,the right signal output can be achieved.However,the above-mentioned signals are out of order because of the existence of the competitive interference ,as shown in figure 2.Where ,the data latch is B=005(binary system of12-bit)and the state latch is ST=0 when counter Ⅰoutputs C=002.It means that INST,the output signal ,is to turn to low level at the time when C=005 But the simulation shows that INST turns in advance ,i.e,the output signal is error .The reason is competitive interference ,which appears on CMP,the output of the comparer ,when counter Ⅰchanges from 003 to 004 .Meanwhile,because of the competitive interference ,the NAND gate opens in advance and A,value of Counter Ⅱ,plusses by 1 ,The time sequences of WR0 and WR1 ,outputs of the encoder ,are error ,In fig 2,CLKCLK2 is output of the divider and CK1 is the output of the NAND gate.}