Once equity prices began to fall, moreover, the wealth effect would go into reverse, and an economy faced with ever-greater over-capacity would plunge.
In the short term, FPI in the form of government bonds and purchases of securities on the secondary markets would foster consumption through a wealth effect and a credit boom.
和显著的财富效应.
Significant wealth effects.
这,就是“财富效应”。
There goes that"wealth effect".
我们称之为“财富效应”。
The so called“wealth effect”.
这就是所谓的财富效应。
That's something called the wealth effect.
这就是所谓的财富效应。
This is called the wealth effect.
这就是所谓的财富效应。
That's called the wealth effect.
第二个原因与财富效应有关。
The second reason has to do with wealth effect.
但是现在一切结束了,财富效应正在开始逆转。
But now that's ending, and a reverse wealth effect is kicking in.
但现在一切都结束了,财富效应已经开始逆转。
But now that's ending, and a reverse wealth effect is kicking in.
宽松货币政策导致金融资产价格上涨,造成巨大的财富效应。
Expansionary monetary policy increases the prices of financial assets, creating a wealth effect that increases consumption.
更加快速的财富效应产生了正反馈,继续推动技术的进步。
The more rapid effects of wealth produced positive feedback and continued to advance technology.
但问题是,所谓的“财富效应”也可以反过来运转。
The problem is, that so-called"wealth effect" can work in reverse too.
最后由于一种财富效应,资产价格的急剧下跌将导致消费减少。
Finally, the large drop in asset prices would cause a fall in consumption owing to a wealth effect.
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