摘要
次贷危机引发的灾难性后果,使得有效市场假说备受质疑,在宏观政策中重视资产价格的呼声越来越高。文章着重探讨针对资产泡沫的调控思路,并认为由于资产泡沫会带来结构性影响,因此相比于总量调控,结构性调控与微观规制更加有针对性;结构性调控更加着眼于短期,而微观规制则是更为根本性的调控措施;无论是结构性调控还是微观规制,均离不开针对资产泡沫的结构性分析作为其政策实施的基础。
The disastrous consequences of the subprime mortgage crisis have made the efficient market hypothesis being questioned which has also generated calls for control on asset price in the macro policies. This article put much emphasis on the discussions of asset bubbles regulation, and argued that structural macro-control and micro-regulation are more targeted tools than total macro-control because of the structural impact of asset bubbles; structural macro-control focuses on the short term, while micro regulation is more fundamental; both structural macro-regulation and micro-regulation need structural analysis for asset bubbles as the policy implementation.
出处
《当代经济管理》
CSSCI
2014年第11期19-23,共5页
Contemporary Economic Management
关键词
演泡沫
结构性调控
微观规制
bubble
structural macro-control
micro-regulation
