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住房反向抵押贷款目前在我国试点预冷,究其原因,是因为由传统观念催生的“房屋遗赠动机”对其影响颇深。目前学界还缺乏对“遗赠动机”的深入研究及具体分析。基于生命周期模型,运用仿真数值模拟方法,探究不同状态下个体的总效用变动情况,据此来分析房屋遗赠动机对贷款需求的影响。研究发现:其一,房屋遗赠动机是住房反向抵押贷款需求的重要影响因素;其二,贷款需求受贷款价值比(LTV)的影响较大;其三,嵌入“赎回权”的反向抵押贷款既可提高老年人口的养老收入,又能满足他们的遗赠动机。根据研究发现,提出了若干政策建议。
Housing reverse mortgage loans are currently in our pilot pre-cooling, the reason is because the birth of the traditional concept of “house bequeathing motivation ” has a profound impact on it. At present, the academic circles still lack of in-depth research and specific analysis on the motivation of bequest. Based on the life-cycle model, this paper uses simulation numerical simulation method to explore the changes of total utility of individuals in different states, and analyzes the impact of house-bending motivation on loan demand. The findings are as follows: First, the motivation for bereavement is an important factor affecting the demand for reverse mortgage loans. Second, the demand for loans is greatly affected by the loan value ratio (LTV). Third, the embedded “redemption right” Reverse mortgage loans can increase the elderly pension income, but also to meet their bequest motivation. According to the findings, a number of policy recommendations were made.