The Default Contagion Mechanism and Preventive Analysis of Credit Assets
Under moderately tight monetary policy,the research on default contagion among credit assets is very important.In this paper,the remarkable similarity between default contagion and biological infection is discovered,for the first time,by analyzing contrastively their infectors and transmitting process.Based on the similarity,virus infection can be used for reference to do default contagion research.The authors analyze default contagion from the new perspective-taking default as contagious virus,and model difference equations to depict default contagion process.Finally the factors and their influence are summarized and precautions of default contagion are suggested.
default default contagion difference equation risk management
Wenli Chen Liyan Han
School of economics and Management Tsinghua University and China Minsheng Banking Corporation School of economics and Management Beihang University
国际会议
长沙
英文
162-166
2008-10-28（万方平台首次上网日期，不代表论文的发表时间）