The costs in inflation and asset bubbles are high.
联系汇率制造成的通货膨胀和资产泡沫代价非常高。
These are the countries that had the biggest credit booms and asset bubbles.
这些国家同样经历过最狂热的信贷扩张和资产泡沫。
Second, we must develop exit strategies to avoid inflation and asset bubbles.
第二，我们必须制定退出战略，以避免通货膨胀和资产泡沫。
And asset bubbles can be deflated through limits on some sorts of borrowing rather than just interest-rate hikes.
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。
The problem will be most acute in emerging economies. Many are already overheating, with prices rising and asset bubbles inflating.
在新兴经济体中问题会更尖锐，价格的上涨与资产泡沫肿胀，很多经济已经过热。
Yet some analysts have cautioned that with the economy still expanding by around 10%, any big stimulus risks reigniting inflation and asset bubbles.
不过一些分析人士提醒说，由于经济增长率仍保持在10%左右，任何重大刺激措施都有重新推高通胀和催生资产泡沫的风险。
It is easy to agree on the facts - increased leverage and asset bubbles in many economies, as well as serious errors made at the top of huge financial conglomerates.
对以下事实达成共识很容易：许多经济体出现了杠杆作用增加和资产泡沫，以及大型金融企业的最高管理层犯下了严重错误。
While 2009's performance sowed optimism among investors, new challenges could damp the party mood, namely fears of rising interest rates, inflation, capital outflows and asset bubbles.
虽然2009年股市表现令投资者感到乐观，但新的挑战将给这股喜悦之情打上折扣，即人们对加息、通胀、资本外流以及资产泡沫的担忧。
Asset prices and bubbles have momentum.
资产价格和泡沫已经加速。
As Keynes famously observed, "you can't push on a string" -quantitative easing is more likely to generate asset bubbles and currency turmoil than employment.
正如凯恩斯的名言：“你不能推一根绳子”——货币量化宽松政策更像是在产生资产泡沫和货币乱局而非就业岗位。
Asset inflation, as evidenced by bubbles in real estate and equities, is rampant.
资产价格正在疯狂上涨，房地产和股市的泡沫即是佐证。
The US is like Japan in that both economies experienced big asset price and credit bubbles and their bursting left an overhang of debt on private sector balance sheets.
美国与日本的相似之处在于，两个经济体都曾遭遇巨大的资产价格和信贷泡沫，这些泡沫的破裂导致私营部门负债累累。
Fed purchases should help America's economy by pushing asset prices up and the dollar down, but they may lead to a damaging rise in commodity prices and fuel asset bubbles in emerging economies.
通过推涨资产价格和减低美元价值，美联储购买资产有助于美国经济，但这将导致新兴市场国家商品价格破坏性的上涨和资产泡沫。
That said, as long as central Banks keep pumping out liquidity at their current rate, asset booms and bubbles are always likely somewhere.
话虽这么说，只要中央银行以当前的速度不断抽取流动性，资产繁荣和资产泡沫可能会在一些国家显现。
Hyun Shin and other scholars in academia provided early modeling of illiquidity and of the perverse effects of leverage during asset bubbles.
申贤昊以及其他学者提供了资产泡沫期间非流动性以及杠杆乖戾影响的早期模型。
Thanks to a profusion of asset and debt bubbles, Japanese-like outcomes are now prevalent throughout the developed world.
由于大量资产和债务的泡沫存在，日本式的后果在发达国家广泛存在。
This is stymieing the adjustment of China's economy, fuelling dangerous domestic asset bubbles and placing an unnecessary burden on other, more flexible currencies.
这妨碍了中国的经济调整，产生了严重的本国资产泡沫，并为其他更加灵活的货币增加了多余负担。
It included two huge asset bubbles, first in stocks and then in real estate.
它包括两个巨大的资产泡沫，第一个是在股市里，然后是在房地产。
There are ultra-low interest rates (real interest rates are probably negative); this is leading to certain asset bubbles – particularly in real estate and public equities.
该地区利率极低（实际利率很可能为负值），这必将导致资产泡沫，特别是在房地产和公众持股领域。
There are ultra-low interest rates (real interest rates are probably negative); this is leading to certain asset bubbles – particularly in real estate and public equities.
该地区利率极低（实际利率很可能为负值），这必将导致资产泡沫，特别是在房地产和公众持股领域。
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