subprimecrisis__次贷危机形成及传导机制Understanding the Subprime Crisis Yu Gao Department of World Economy School of Economics Fudan University UNIVE N R A S I D T Y U F 1 9 0 5 Understanding the Subprime Crisis Outline 1 How different mortgage loan markets work Traditional mortgage loan market Modern mortgage loan market 2 A complete explanation of the subprime crisis The roles of different participants Transmission mechanism 3 Comments and Conclusions 4 Q & A 2 / 29 Understanding the Subprime Crisis Different mortgage loan markets Traditional market A Look into Residential Mortgage Market In China 3 / 29 Understanding the Subprime Crisis Different mortgage loan markets Modern market A Look into Residential Mortgage Market In the . 4 / 29 Understanding the Subprime Crisis A complete explanation The roles of different participants Home Buyers Borrowers Without steady jobs Weaker credit histories Subprime mortgage loans
