资产价格与货币政策：一个理论综述

该文对近几年国内外学术界对资产价格如何影响实体经济，货币政策是否应该考虑资产价格，如何将资产价格纳入到货币政策指标体系中等问题的研究进行了理论综述。文章认为，资产价格变动会通过财富效应，托宾Q值效应，金融加速器效应和预期效应等影响实体经济活动，但学者们对货币政策是否应该考虑资产价格以及如何将资产价格纳入到货币政策指标体系中始终存在不同看法。

Asset Price and monetary policy:A theoretical review

How does asset price influence the substantial economy？ Should asset price be included in the consideration of monetary policy, and how does one channel asset price into the measurement system of monetary policy？ With these questions in mind, the authors review literature both at home and abroad in recent years and make a theoretical summary in this paper. According to the authors, fluctuations of asset price can influence the substantial economy by ways of wealth effect, Tobin＇s Q-effect, financial accelerator and anticipation. However, different opinions persist on whether it is feasible to include asset price in monetary policy and how.