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。
The excess liquidity has led to the resurgence of asset bubbles.
流动性过剩已导致资产泡沫再度抬头。
Otherwise negative real interest rates will inflate asset bubbles.
否则，负的真实利率会助推资产泡沫。
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。
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。
But one thing is certain: when it comes to asset bubbles, bigger is not better.
但是有一件事情是确定的：出现资产泡沫时，越大越不妙。
They ignored or failed to spot huge asset bubbles and banks’ kamikaze behaviour.
对于银行巨大的资产泡沫以及敢死队式的借贷行为，它们采取忽视态度或者是压根就没有发现。
The bad news is that it led central Banks to sit idly by while asset bubbles inflated.
坏消息则是，假设使得央行对资产泡沫膨胀袖手旁观。
Some would still blame the Fed, for not deflating asset bubbles with higher interest rates.
一些人仍会归咎于美联储没有用高利率将资产泡沫挤掉。
If an EM imposes capital controls to deal with asset bubbles, that's probably a good thing.
如果一国利用资本控制应对资产泡沫，那它就可能是一件好事。
It can also spark asset bubbles, exacerbating the inflation that rate increases are meant to combat.
流入的资金还会引发资产泡沫，加重通货膨胀形势，而加息本来是要打击通胀的。
Pricking asset bubbles is never easy, but there is scant evidence that its efforts are too heavy-handed.
刺破资产泡沫绝非易事，但是其出拳太重的证据稀少。
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。
After all, we've just been through two horrible asset bubbles — and busts — in the U.S. and global financial markets.
毕竟，我们刚刚在美国和世界金融市场经历了两次恐怖的资产泡沫，并看着他们破裂。
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。
Hence Mr Barbera rejects the idea, popular in the era of Alan Greenspan, that central Banks should do nothing to burst asset bubbles.
因此Barbera并不赞同格林斯潘时代流行的观点，即央行应对资产泡沫破灭置之不理。
The Fed has long argued that central bankers should not try to prick asset bubbles, but must mop up the mess promptly when they burst.
美联储长期以来一直认为，中央银行不应该尝试去戳破资产泡沫，而必须在泡沫破裂后迅速地收拾残局。
SINCE the bursting of Japan's asset bubbles in the early 1990s, the country has undergone a long and deflationary process of debt reduction.
日本从1990年代初的资产泡沫破灭伊始，就进入了一个冗长的通货紧缩、降低负债的过程。
SINCE the bursting of Japan's asset bubbles in the early 1990s, the country has undergone a long and deflationary process of debt reduction.
日本从1990年代初的资产泡沫破灭伊始，就进入了一个冗长的通货紧缩、降低负债的过程。
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