NNS模型及其对宏观经济学的新发展

NNS Model and Its New Expanding on Macroeconomics

20世纪80年代以来,新兴新古典综合(NNS)模型被广泛运用于解释具有微观基础的宏观经济问题。本文考察NNS模型的总体研究工作,论证其对于当下宏观经济学的新发展及意义。NNS模型分析性地说明:价格稳定将继续作为好的货币政策的基础,保证货币政策达到家庭福利最大化;在实际操作中,通过锚定预期未来通货膨胀,利率政策通过促进价格稳定的可信性强化了杠杆作用,导致利率政策在最大程度上促进了当前的总需求;只要现金优先的解释暗示了如果价格下降,产出只能增加,那么可以发现,扩张型的财政政策必然会在货币外生的体制下产生通货紧缩的后果。NNS模型对于中国经验具有一定的解释力。

Since 1980s, the new neoclassical synthesis （NNS） model has been widely applied in the explanation of c problems with macro-basis, This paper reviews the overall research work of the NNS model and argues on its new expanding and enlightenment on the current macro-economics. The NNS model explains that price stability will continue to serve as a foundation of good monetary policies, and it is desirable from the perspective of household welfare maximizing; Which in actual operations, by pinpointing the expected future inflation, interest rate policy strengthens its leverage by boosting the credibility for price stability and thus promotes the current aggregate demand to the greatest extent possible; that the interpretation of cash-coming-first implies that if price decreases, output will increase, and thus we can conclude that expansionary fiscal policies will result in consequences of deflation in the system in which money is exogenous, The NNS model has some explanatory power for China＇s experience.