【摘要】 基于资产财富效应理论,实证研究了我国资产价格变化对居民消费的影响。研究表明:股票市场和房地产市场都表现出了一定的财富效应,房地产市场的财富效应远大于股票市场的财富效应,资产财富效应随着经济的发展渐强。同时发现国民收入和社会消费存在互动效应,房地产市场的发展会促进国民经济的发展,股市对国民经济发展的促进作用有限。更多还原

【Abstract】 This paper,based on wealth effect theory,makes an empirical study for the wealth effect of our country’s assets price.The main conclusions are as follows: both the stock market and real estate market show some wealth effects in China;the wealth effect in real estate market is far greater than that in the stock market;as the economy develops,the wealth effect of assets is strengthening.Meanwhile,there is an interacting effect between GDP and the social consumption;the development of the real market can promote national economy;but the effect of the stock market is limited.更多还原