Department of finance

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Lyu Huirong

五月 08 2020



   Name:Huirong Lyu


  Title:Assistant Professor

  Email: luhuirong@swupl.edu.cn






Academic & Professional Qualification

  • Ph.D. in Finance, Southwest University of Finance and Economics, 2011

  • M.A. in Applied Economics, Southwest University, 2005

  • B.A. in Knitting Engineering, Zhejiang Sci-tech University, 1997


Research Interest

  Housing Finance

  Macro-Financial Policy



  • “Housing Finance is Good or Bad for Household,” Financial Theory and Practice, 2017.3, 13-19.

  Abstract: The huge income gap among China’s urban household is becoming a serious trouble. Many reasons contribute to the problem including housing. This paper built a model based OLG, that imitates decision-making of different households when they face the different financial conditions. We found housing finance improves the utility of every kind of households, but our current housing finance measures is better for improving utility of the household who has haven initial wealth. And then, our current housing finance measures may attract some households to be over-debt, which would reduce their utilities. Our view is that we should develop leasing market of house and create new measure of housing finance.

  • “On the Relationship of Housing Finance and Income Gap of City Family,” Journal of Southwest University (Natural Science Edition), 2016.10, 1-7. 

  Abstract: This paper analyzes and tests the relationship between housing finance and income gap of city family. And we find that they are significant correlation wealth effect, income effect, threshold effect, and crowding-out effect. So we suggest that housing finance should make innovations along supplying dwelling.

  • “Comparing Functions of Real Estate Financial System between U.S. and Japan and Its Implication,” Finance and Economics, 2012.2, 29-35. 

  Abstract: This paper uses financial function perspective to study real estate financial system and discovers that saving motivation is at core of American real estate financial system, satisfying general goals of American economic growth, with asset securitization, advanced capital market and strong position of U.S. dollars as the conditions of smooth functioning, and being not duplicable. Risk management is at core of Japanese real estate financial system, and its policy finance has tremendous impacts on the risk management and stable function of the whole real estate financial system. After about three- decade rapid economic development, striking differences have occurred in micro- subject and the attribute of houses. We must perfect functional structure of finance, avert sub-mortgage crisis and promote sustainable development of real estate market.

  •  “Families’ Optimal Decision on Housing Consumption,” Journal of Yunnan University of Finance and Economics, 2012.2, 51-55. 

  Abstract: With the rapid development of housing market in China, a series of problems caused by increasing house price arise, and the government has published policies to control the problems from several aspects. Housing, in nature, is a special product with the double attributes of consumption product and investment product. By taking the attribute into the housing consumption function of families with utility maximization as the decision-making purpose, the author finds out that the equilibrium amount of housing consumption is positively correlated to the overall wealth of the families and future house price. It is negatively correlated to the purchasing price and closely related with housing credit policy. Therefore, only by taking the double attributes of housing into consideration, can we improve the effect of housing adjustment policy. As the most important part of housing policy, housing financial policy should perfect its function mechanism from the microscope of housing consumption behaviors.

  •  “China’s  Financial Monopoly from Wenzhou Phenomenon,” Zhejiang Finance, 2012.1, 54-57.

  •  “Channel Effect of Financial Development Promoting Economic Growth,” Zhejiang Finance. 2009.9, 20-21.



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