但是资产价格泡沫丛生，情势危险。
资产价格泡沫的研究已经形成了四种重要观点。
The asset price bubbles research has formed four kinds of important points of view.
由于担心投机性资产价格泡沫，中国正在考虑开征物业税。
Worried about a speculative asset price bubble, China is considering property taxes.
但那时的日本并不像我们今天这样，面临新一轮的资产价格泡沫。
But Japan did not experience the beginning of another round of serial asset price bubbles as we do today.
在现阶段下结论，认为出现资产价格泡沫属言之尚早。
It was too early to conclude if there was an asset price bubble.
但是资产价格泡沫确实有引起发达国家央行家们过激反应的风险。
But bubbly asset prices do risk overreaction from rich-world central bankers.
他警告说，全球利率过低，可能导致新的资产价格泡沫。
He warned that the global interest rates too low, maybe lead to a new asset price bubbles.
证券市场上的资产价格泡沫一直是理论界研究的热点问题。
另一个共同特点是，资产价格泡沫往往后续时期的价格稳定。
Another common feature, is that asset-price bubbles often follow periods of price stability.
政策制定者们也担心这种资本洪流可能会导致资产价格泡沫并且高估货币。
Policymakers also fear that this flood of capital could lead to asset-price bubbles and overvalued currencies.
日元套息交易放大了全球资本流动，使世界各地的资产价格泡沫进一步膨胀。
The yen carry trade has amplified global liquidity, further inflating asset-price bubbles across the world.
我们不仅要严防国际热钱流入，而且要限制资产价格泡沫、阻击国际热钱套利。
Besides strictly preventing the inflow of international hot money, we must curb the asset price bubbles and check the arbitrage of international hot money.
于是通过限制某些类型的信贷而不是单单提高利率，资产价格泡沫能够被抑制。
And asset bubbles can be deflated through limits on some sorts of borrowing rather than just interest-rate hikes.
日元套息交易放大了全球资本流动，使世界各地的资产价格泡沫进一步膨胀。
The yen carry trade has amplified global liquidity further inflating asset-price bubbles across the world.
非理性投机泡沫认为，资产价格泡沫是市场主体行为的结果，是一种客观存在。
The irrational speculative bubbles thinks the asset price bubbles is made by the behavior of investor in market.
但是现在，Mr Ostry的团队在形成资产价格泡沫方面，长期的资本流入会更加危险。
But Mr Ostry's team now points out that persistent inflows might be even more dangerous in terms of asset-price bubbles.
下一轮资产价格泡沫，不会出现在西方，而会出现在以中国为首的亚洲新兴市场。
The next bubble in asset markets will not be in the West but in emerging Asia , led by China.
人们越来越焦虑流动性泛滥推动了资产价格泡沫，进而当泡沫破灭会破坏经济的稳定。
There are growing concerns that a flood of liquidity is fuelling asset-price bubbles, which could destabilise economies when they burst.
最后分析了流动性过剩的成因，提出了缓解我国流动性过剩与资产价格泡沫的对策。
Finally, we analyze the cause of excess liquidity and give the countermeasures to excess liquidity and asset price bubbles in our country.
同样重要的是，资产价格泡沫会增加央行决策者犯错误的风险，在破裂之前就带来危害。
Equally important, frothy asset prices could cause damage long before any bubbles burst, by increasing the risk that central bankers make mistakes.
上述特征中，信贷快速增长是预示金融不稳定的最重要的首要指示器，其次是资产价格泡沫。
Of these, rapid credit growth is the most important leading indicator of financial instability, followed by an asset price bubble.
只有这样，才能有效避免资产价格泡沫的产生和破灭，防范金融风险，确保宏观经济的稳定运行。
This can effectively avoid the asset prices bubble, guard against financial risks and ensure the steady operation of macro economy.
资产价格泡沫是指现代信用经济情况下，资产的市场价格脱离其基础价值而急剧上涨的一种经济现象。
Asset price bubble is economic phenomenon that the price deviates its basic value drastically in the credit economic environment.
资产价格泡沫是指现代信用经济情况下，资产的市场价格脱离其基础价值而急剧上涨的一种经济现象。
Asset price bubble is economic phenomenon that the price deviates its basic value drastically in the credit economic environment.
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