UC知道高手翻译一下！！！一些代表字母就照搬可以了
来源：百度知道 编辑：UC知道 时间：2024/05/26 03:13:13
For security investors, the effect of mortgage securitization is to lower the price at which they can purchase mortgage securities from P 3 when securitization is zero, to P* when securitization is at the competitive level X*. The welfare benefit can then be measured by the shaded area under the
security demand curve, depending on the elasticity of the demand curve. The demand curves for capital market instruments are generally highly elastic, given the rich supply of close substitutes. Hermalin and Jaffee concur with this conclusion, implying that the welfare benefits for mortgage investors may
be relatively small.
security demand curve, depending on the elasticity of the demand curve. The demand curves for capital market instruments are generally highly elastic, given the rich supply of close substitutes. Hermalin and Jaffee concur with this conclusion, implying that the welfare benefits for mortgage investors may
be relatively small.
为保障投资者的影响，抵押贷款证券化是降低价格，使他们可以购买抵押贷款证券从p 3当证券化是零，但到p *时，证券化是在竞争水平x * 。这项福利，然后再衡量阴影下的面积
安全需求曲线，取决于弹性的需求曲线。需求曲线为资本市场工具一般都是高弹性，考虑到丰富的供应密切的代替品。埃尔马兰和jaffee同意这样的结论，这意味着该福利的按揭投资者可能
相当少。