Fiscal stimulus and the wealth effect of rising asset prices can provide only a temporary prop to domestic spending.

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。

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This feeling has, in a reversal of the boom's wealth effect, curbed consumer spending.

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。

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An alternative perspective is to look at the wealth effect of asset deflation.

另一种观点着眼于资产紧缩的财富效应。

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Moreover, financial assets now account for a larger share of household wealth, making the wealth effect of a stockmarket crash potentially much larger.

ECONOMIST: Greenspan lets things simmer

Mr Poterba reckons the lower estimates of the wealth effect during the 1990s are more plausible.

ECONOMIST: Wealthy and wise?

And she has welcomed any acceptance by the Tories that the "trickle down effect" of wealth from the richest to the poorest did not work.

BBC: Analysis