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《Research on the Generalized Virtual Economy》 2011-03
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Virtual Value Research of Real Estate and Real Estate Financial Derivatives

YAN Yan1,2 XUE Xin3 ZHU Xiaowu4(1.Chinese Academy of Sciences,School of Management in Graduate University,Beijing 100080,China;2.State Information Center,Beijing 100045,China;3.People's Government of Jilin Municipality,Jilin 132011,China;4.China University of Political Science and Law,Business School,Beijing 100088,China)  
Real estate is a widely acknowledged wealth identification,whose virtual value has three attributes:formalization,liquidity,maintenance and appreciation of assets value.This paper summarized the evolution process of real estate,real estate financial derivative and complicated financial derivative whose reference portfolio is MBS,and analyzed the structures and virtual values of MBS and CDO.The analysis of this paper shows that the virtual values of real estate and real estate financial derivatives have features of "no-limit existence for ever,and limit existence anytime".
【Fund】: 教育部人文社科基金(10YJC630425);; 中国政法大学青年教师学术创新团队资助项目
【CateGory Index】: F293.3
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