目前,这种财富效应已出现报复性逆转.

Now that wealth effect has reversed with a vengeance.

实证结果表明,我国房地产市场不具有财富效应而仅具有替代效应.

The results suggest that there is no wealth effect in the market but only substitution effect.

第四章是股票市场直接财富效应分析。

Section IV presents the direct wealth effect of stockmarket.

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.

文章在阐述了股市财富效应的理论及相关研究成果之基础上，从定性和定量的角度详细分析了中国股票市场财富效应问题。

Based on the stock market wealth effect theory and the related research results, the article analyzes the stock market wealth effect in China from the qualitative and quantitative angle.

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.

如今她认为,整容手术只不过是财富效应的自然结果.

Now she thinks it is just a natural consequence of the wealth effect.

股市财富效应所揭示的是股市与消费支出之间的相互关系。

Stock market wealth effect reveals the interrelationship between the stock market and consumption.

一些学者从家庭财富的多元性与股市波动的不确定性等入手，通过市场调查与实证检验等方法，对财富效应持怀疑态度。

While others who doubt the wealth effect in stock market find the diversification of household wealth and uncertainty of stock market through market survey and empirical tests.

这就造成了不会给消费带来任何财富效应的巨大资本增值。

This has created huge capital gains with no wealth effects on consumption.