摘要
当代经济的真实状态是实物经济、虚拟经济与泡沫经济的紧密相关和互动转化 ,泡沫经济既可以在实物经济领域发生也可以在虚拟经济领域发生。马克思关于名义价值与市场价值的界定和区分是我们分析资产泡沫的关键 ,据此我们可以导出测度资产泡沫和资产泡沫度的理论公式。经济泡沫及泡沫测度尚可从载体供给的相对稀缺性、投机需求和信息缺陷等泡沫经济的成因入手分析。泡沫经济指标测度有金融相关率、马歇尔K值系数、市盈率比率和Q值等。
The actual state of contemporary economy is reflected in the interrelation and interchange of body economy, fictitious economy and bubbling economy. Bubbling economy can take place in the spheres of both body economy and fictitious economy. The Marxist definitions of nominal value and market value, from which the theoretical formulae for estimating assets bubbling and its degree can be derived, provide the key for the analysis of assets bubbling. The analysis of economic bubbling and its estimation may also start from the causes of bubbling economy, such as the relative scarcity, speculative demand and information defect of instrument availability. The estimating indexes of bubbling economy include financial interrelations ratio, Marshall's 'K', P/E ratio, Tobin's Q, etc.
出处
《金融研究》
CSSCI
北大核心
2002年第6期49-55,共7页
Journal of Financial Research
