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。
Empirically, economists have long had trouble pinning down the wealth effect from housing.
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。
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。
The theory behind the wealth effect runs as follows. Housing is one of the main assets in which people hold their wealth.
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。
In short term, the wealth effect of housing and stock market are not obvious.
就短期而言，全国房地产市场财富效应及股票市场财富效应均不显著。
As house prices fall in America, Britain, Ireland and Spain, the wealth effect kicks in.
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。
When the wealth effect is smaller than the substitution effect, the stock price negatively correlated with inflation.
当财富效应小于替代效应时，股价与通货膨胀负相关。
As money flows into speculation in asset markets, many believe that it will lead to spending boom through the wealth effect.
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。
This article researches systematically the wealth effect of listing companies redeeming their stocks, by establishing the model of redeeming stocks.
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。
Bernanke is betting the wealth effect of rising assets prices will lead to increased borrowing and consumption and the economic recovery will continue.
伯南克赌资产价格上升的财富效应，将创造出更多的借贷和消费，使经济复苏持续下去。
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).
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。
In the process of studying consumption function form, one issue that can not be ignored is the relationship between consumption expenditure and the wealth effect.
在研究我国消费函数形式的过程中，消费支出同资产财富效应的关系是一个十分重要的问题。
The wealth effect of corporate diversification is a big puzzle.
多元化是企业财富效应中最令人迷惑的现象之一。
The wealth effect has a relationship to the stock of national debt.
但是，这一财富效应却是与国债存量相关的。
The wealth effect created by the rally will play its part in reviving the economy.
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 of stock market does exist in some western countries with high degree on securities.
股市财富效应在欧美等证券化程度较高的国家确实存在。
One of the most discussed and argued problems in annexation Theory is the Wealth Effect of enterprises annexation.
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。
The wealth effect of Chinese residents' stock assets is relatively slight, which is not conducive to the consumption growth brought by rising property incomes.
我国居民股票资产财富效应表现微弱，不利于财产性收入上升带来的居民消费增长。
Not surprisingly, the "wealth effect" (the extent to which a change in asset prices affects people's spending) is bigger in the indebted Anglo-Saxon economies than elsewhere.
毫不奇怪，盎格鲁-萨克逊经济体的“财富效应”(指资产价格变化对人们支出的影响程度)要比其他地方高得多。
In the meantime, the "dual ratchet effect" of consumer demand and price level triggers stable rise in real consumer demand, and the "wealth effect" strengthens the trend.
同时，消费需求与物价水平的“双棘轮效应”促使实际消费需求稳步增长，“财富效应”强化了消费需求增长趋势。
In the meantime, the "dual ratchet effect" of consumer demand and price level triggers stable rise in real consumer demand, and the "wealth effect" strengthens the trend.
同时，消费需求与物价水平的“双棘轮效应”促使实际消费需求稳步增长，“财富效应”强化了消费需求增长趋势。
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