储蓄过剩对宏观经济政策的影响

The Impact of Savings Excess upon Macro-economy

根据宏观经济分析框架,私人部门储蓄过剩导致我国近年来财政赤字和对外贸易顺差交替出现巨额增长,使财政政策和对外贸易政策面临两难选择。为维持总量平衡,保持适度的经济增长,应充分发挥财政的稳定机制,为提升消费支出的比重建立良好的政策保障。

According to the macro-economy analysis framework, excessive savings of private sectors has made a huge increase of fiscal deficit and foreign trade surplus in turn in recent years in China, causing fiscal policy and foreign trade policy to face a diloma choice. For maintaining an aggregate balance, keeping a moderate economy growth, a steady fiscal mechanism should be put into full play so as to set up a sound policy guarantee for promoting the ration of consumption expenditure.