Assortative Matching Property of Informal Credit Market in Rural China
研究中国农村非正规借贷中的正向匹配现象，发现借贷主要发生在富人与富人、穷人与穷人之间，而非跨阶层流动，并构建搜索匹配模型解释这一特征。
The paper researches the Positive Assortative Matching property in the informal credit market It is found that informal loans are mostly interest rate free,but the loan flows were neither from the rich to the poor, nor from the poor to the rich.The loan flows have the PAM property:most loan flows are from the rich to the rich and from the poor to the poor.The authors constructs a model in a search-matching framework to explain this property,theoretically prove the existence of the equilibrium,discuss the equilibrium property,and depict the matching set through numerical methods.