美国国家经济研究局（NBER）的研究显示，在产生“财富效应”(wealth effects)方面，房市重要性胜过股市。能影响家庭增加支出的关键因素，是一个健康房市而不是上涨的股市。
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Thirdly, the institutional investors may diversify their portfolio in two or more countries, and due to the wealth effects, the returns of investments in the various countries have a positive correlative relationship among them, making the financial contagion possible.
第三，由于财富效应的存在，机构投资者以组合投资技术在两个以上国家分散其投资，使这两个国家的投资回报有了正相关的关系，从而最终形成了金融传染。
参考来源 - 开放经济条件下金融传染微观机理研究·2,447,543篇论文数据，部分数据来源于NoteExpress
The second, what is the source of wealth effects?
第二，财富效应的源泉是什么。
Indeed, the wealth effects of higher asset prices will help lift spending.
实际上价高资产价格的财富效应有助于提高消费。
In this paper we studied the wealth effects of the households' stock assets and housing assets in china through ECM model.
通过建立ECM模型，研究了中国居民证券资产和住房资产的财富效应。
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