现代金融危机特点及研究——基于虚拟经济波动性视角

The Characteristics and Research of Modern Financial Crisis:Based on the Perspective of Volatility of Fictitious Economy

基于虚拟经济波动性视角探讨了现代金融危机的特点、具体表现形式及其形成原因。现代金融危机产生的原因是多层次、多方面的,从虚拟经济波动性的视角入手,研究虚拟资产价格变化的动态,然后从现实基础和心理支撑两大方面研究产生这些特征的原因,最后以美国的股票市场为样本数据对美国的虚拟经济波动性进行实证分析,认为波动性是虚拟经济固有的内在特性且极易造成资产泡沫。研究结论说明国家加强虚拟经济监管具有必要性,也为国家保持虚拟经济与实体经济协调发展及经济的持续稳定提供一定的借鉴和参考。

This paper analyzes the characteristics, forms, and causes of modernfinancial crisis. The reasonsfor modern financial crisis is complicated and this paper has done a case study based on volatility of fictitious economy. First, this paper study the changes of fictitious asset , then analyzes the reasons of this changes on the basis of reality and psychological support. Finally, this paper study the volatility of fictitious economy of U. S through the data of U. S. stock market and we have a conclusion that the intrinsic characters of fictitious economy can easily result in asset bubbles. This paper shows that the need for countries to strengthen supervision of the fictitious economy is necessary and provides some reference about how to maintain a stable fictitious economy and real economv.