另一种观点着眼于资产紧缩的财富效应。
An alternative perspective is to look at the wealth effect of asset deflation.
第二，财富效应的源泉是什么。
三是财富效应的大小难以准确估量；
实际上价高资产价格的财富效应有助于提高消费。
Indeed, the wealth effects of higher asset prices will help lift spending.
股市反弹创造的财富效应能够助经济复苏以一臂之力。
The wealth effect created by the rally will play its part in reviving the economy.
但是，这一财富效应却是与国债存量相关的。
The wealth effect has a relationship to the stock of national debt.
这种感觉抑制了消费开支，与经济繁荣时的财富效应刚好相反。
This feeling has, in a reversal of the boom's wealth effect, curbed consumer spending.
从经验上看，经济学家们一直以来都难以说清楚房产财富效应。
Empirically, economists have long had trouble pinning down the wealth effect from housing.
当财富效应小于替代效应时，股价与通货膨胀负相关。
When the wealth effect is smaller than the substitution effect, the stock price negatively correlated with inflation.
股市财富效应在欧美等证券化程度较高的国家确实存在。
The wealth effect of stock market does exist in some western countries with high degree on securities.
财富效应背后的理论运行如下：房产是人们持有其财富的主要资产。
The theory behind the wealth effect runs as follows. Housing is one of the main assets in which people hold their wealth.
财政刺激措施和高资产价格带来的财富效应只是提振国内消费的治标之策。
Fiscal stimulus and the wealth effect of rising asset prices can provide only a temporary prop to domestic spending.
随着美国，英国，爱尔兰和西班牙的房价下跌，财富效应开始呈现。
As house prices fall in America, Britain, Ireland and Spain, the wealth effect kicks in.
当货币进入资产市场进行投机，许多人相信这会通过财富效应而引起一轮消费热。
As money flows into speculation in asset markets, many believe that it will lead to spending boom through the wealth effect.
但最近的一些研究提出房地产市场的“财富效应”最终可能比上述的两倍还要多。
But some recent studies suggest the "wealth effect" from housing may eventually be more than double that.
的确，只有不断提高资产价格水平，它的财富效应才能起到辅助刺激消费的作用。
Indeed, the wealth effects of higher asset prices will help lift spending. Ample liquidity is therefore likely to continue to stoke asset prices.
通过建立ECM模型，研究了中国居民证券资产和住房资产的财富效应。
In this paper we studied the wealth effects of the households' stock assets and housing assets in china through ECM model.
本文通过建立股份回购模型，来系统研究上市公司股份回购的财富效应。
This article researches systematically the wealth effect of listing companies redeeming their stocks, by establishing the model of redeeming stocks.
而高房价也同时通过财富效应而间接发挥作用，随着资产增加，消费者花销也会增加。
They also have an indirect impact via the wealth effect, as consumers increase their spending in response to improvement in their balance-sheets (see article).
研究股市财富效应旨在揭示股票财富发生变动对居民消费支出带来的影响。
Researching wealth effect of stock market wealth to reveal a change in the stock to the impact of consumer spending.
短期财富效应是指证券市场各因素引起股价发生波动而给股东带来的额外收益。
Short term wealth effect is the extra profit brought about by stock prices fluctuation triggered by various security market factors.
在公司并购理论中讨论最多、争论最激烈的问题之一就是公司并购的财富效应。
One of the most discussed and argued problems in annexation Theory is the Wealth Effect of enterprises annexation.
无论从长期还是短期分析，我国股票市场的变动都会给居民消费带来财富效应。
Whether long or short-term analysis of changes, stock market will bring to the consumer wealth effect in China.
无论从长期还是短期分析，我国股票市场的变动都会给居民消费带来财富效应。
Whether long or short-term analysis of changes, stock market will bring to the consumer wealth effect in China.
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