从世界各国看,中央银行最重要的职能之一是维持货币币值稳定和金融系统的稳定。度量货币币值稳定的指标为一揽子商品和服务的价格,这里涉及的一个问题是,在度量币值稳定的价格水平指标中是否应该包括资产价格,也就是金融资产价格和房地产价格。本次金融危机告诉我们,中央银行不关注资产价格是不行的。但相对于一般的物价水平,资产价格波动更加频繁、幅度更 From all over the world, one of the most important functions of the Central Bank is to maintain the stability of the monetary value and the stability of the financial system. A measure of the stability of a currency’s value is the price of a basket of goods and services. A question that is asked here is whether asset prices should be included in measures of monetary stability, ie, financial assets and real estate prices. This financial crisis tells us that it is impossible for the central bank not to pay attention to asset prices. However, relative to the general price level, asset prices fluctuate more frequently and with more magnitude