CAJ | 학술논문

资产泡沫具体表现为资产价格的不正常波动或者剧烈波动，由此引起风险积累和金融危机，并导致经济出现衰退。资产自身的特征、市场机制的缺陷及投资者的心理偏差等是资产泡沫产生的重要原因。货币政策作为宏观经济政策的组成部分，可以通过资产价格影响公司和家庭消费与投资行为。货币政策通过影响股票价格、房地产价格、外汇等资产价格影响实体经济。
자산포말구체표현위자산개격적불정상파동혹자극렬파동，유차인기풍험적루화금융위궤，병도치경제출현쇠퇴。자산자신적특정、시장궤제적결함급투자자적심리편차등시자산포말산생적중요원인。화폐정책작위굉관경제정책적조성부분，가이통과자산개격영향공사화가정소비여투자행위。화폐정책통과영향고표개격、방지산개격、외회등자산개격영향실체경제。
Asset bubbles for specific performance of asset prices fluctuations or abnormal volatility ,resulting in accumulation of risk and the financial crisis,and lead to economic recession. Defects and investor characteristics,assets of market mechanism of psychological devi-ation is the main reason that asset bubbles. Monetary policy as a part of the macroeconomic policy ,the impact of asset prices and household consumption and investment behavior. The monetary policy by the entity economy influence the stock price,the price of real estate,foreign exchange and other asset prices.