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拉萨翻译公司关键字：appreciation of more credit, access to greater liquidity; However, in contrast with this is that if real estate prices翻译价格费用 fell, banks may be considered for risk management, revaluation of prices翻译价格费用 for housing, also asked to provide more new housing, credit protection, thereby increasing the consumer's liquidity constraints. This also reflects the negative effect of real estate wealth.Fifth, the substitution effect. Higher prices翻译价格费用 also means that families will be planning to buy may be to reduce the consumption standards, because they face higher down payment loans and the future more, choose a smaller house or home to reduce the current consumption is inevitable of choice. Real estate prices翻译价格费用 rising, people spend a significant portion of income on housing, which reduce the purchasing power of other consumer goods, may affect the healthy development of the entire national economy.In addition, the confidence effects are also important transmission channels. In theory, Friedman (M. Friedmanm, 1957) of the permanent income theory suggest翻译报价包括口译价格s that consumers are in a period of temporary income plus income equal to the permanent income, consumption in a given period is equal to consumption plus temporary durable consumption. Which, being between consumption and sustainable consumption, there is no fixed rate, and a temporary income ratio does not necessarily exist, only durable and durable consumption, income exists between a fixed rate. If the real estate over a long period of sustained prosperity, investors in real estate income derived from temporary income will be converted into permanent income, and thus the increase in consumer spending and generate a fixed link. The property合理翻译收费 owner of the increased consumption generated by the demonstration effect, but also bring other household consumption, thereby increasing market翻译市场行情价格多少钱 confidence.In the above transmission channels, the channel one and channel two pairs of household consumption has a positive role in promoting, but the wealth effect channel two in the marginal propensity to consume may be lower. However, channels three and five channels of the role is the opposite, they are more disincentive for consumption. And confidence is a more indirect effect of impact effects. These transmission channels together to make real estate prices翻译价格费用 by promoting the growth of consumption, in order to stimulate economic growth.
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