【摘要】：隨著我國現(xiàn)代化進程的加快，人口老齡化的問題日益嚴重。人口老齡化必然將帶來一系列的矛盾和壓力，對經(jīng)濟和社會提出新的挑戰(zhàn)。我國目前的養(yǎng)老保障體系遠未完善，養(yǎng)老資源匱乏，養(yǎng)老問題嚴峻。對很多老年人來說，單靠社會養(yǎng)老金和傳統(tǒng)的家庭養(yǎng)老模式，已經(jīng)很難滿足其退休后的生活需求。而西方發(fā)達國家進入老齡化時間長，應對老齡化問題積累了豐富的經(jīng)驗。在此條件下，結合國外先進經(jīng)驗結合我國國情探索新型養(yǎng)老模式勢在必行。 住房反向抵押貸款作為一種新型金融工具，在國外被證明是一種積極有效的擴充養(yǎng)老金的方式，能夠有效的增加老年人收入，改善老年人生活水平。我國可以結合本國國情，引進這種金融工具，配合養(yǎng)老保障體系解決日益嚴峻的養(yǎng)老問題。為做好這一業(yè)務，核心內(nèi)容之一就是貸款產(chǎn)品的定價問題。 本文系統(tǒng)的闡述了住房反向抵押貸款的概念、特征以及相關理論。并對住房反向抵押貸款同傳統(tǒng)住房抵押貸款產(chǎn)品和其他養(yǎng)老金融工具進行了比較分析。對于產(chǎn)品的定價的研究，則是本文的核心部分。通過分析影響定價的三大因素：預期壽命、利率水平和房價變動，進而引出定價模型。然后使用石家莊市具體數(shù)據(jù)，以單身老年女性為對象，，對模型進行模擬分析與敏感性檢驗。得出結論：通過住房反向抵押貸款產(chǎn)品，老年人能夠明顯的提高收入水平；定價結果對于借款人年齡、利率水平和房價變動反應敏感；在影響定價的三大因素中，年齡因素與房價變動率對于定價結果影響最大。在數(shù)據(jù)分析的基礎上，為我國未來展開相關業(yè)務提供建議。
[Abstract]:With the acceleration of China's modernization process, the problem of aging population is becoming more and more serious. Population aging will inevitably bring about a series of contradictions and pressures, which will bring new challenges to economy and society. China's current pension security system is far from perfect, pension resources are scarce, pension problems are severe. For many elderly people, it is difficult to meet their needs after retirement by relying on social pension and traditional family pension model. However, the western developed countries have accumulated rich experience in dealing with the aging problem because of their long aging time. Under this condition, it is imperative to explore the new pension model combined with the advanced experience of foreign countries and the national conditions of our country. As a new financial instrument, the reverse mortgage of housing has been proved to be a positive and effective way to expand pension in foreign countries, which can effectively increase the income of the elderly and improve their living standard. According to our national conditions, we can introduce this kind of financial instrument and cooperate with the pension security system to solve the increasingly austere pension problem. In order to do this business well, one of the core content is the pricing of loan products. This paper systematically expounds the concept, characteristics and related theories of housing reverse mortgage. The reverse mortgage is compared with the traditional mortgage products and other pension financial instruments. The research of product pricing is the core of this paper. Through the analysis of three factors that influence pricing: life expectancy, interest rate level and house price change, the pricing model is derived. Then using Shijiazhuang city data, single elderly women as an object, the model was simulated and sensitivity test. It is concluded that the elderly can significantly increase their income through reverse mortgage products; the pricing results are sensitive to the borrower's age, interest rate level and house price changes; among the three major factors affecting pricing, Age factors and the rate of change in house prices have the greatest influence on the pricing results. On the basis of data analysis, suggestions are provided for the future development of related business in China.
【學位授予單位】：河北大學
【學位級別】：碩士
【學位授予年份】：2013
【分類號】：F832.4

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本文編號：2274022