摘要
在经济运行动态无效的情况下,通过引入资产泡沫可以使得经济趋于动态有效。这就为控制资产泡沫带来一种困扰。本文在"AMSZ准则"扩展的基础上,用中国1985~2007年的数据做出检验,得出自1990年以来中国经济动态无效的结论,并进一步分析引入资产泡沫消除经济动态无效的不可取;在提高劳动收入的基础上扩大消费需求才是正道。
In the case of dynamic inefficiency,economy can be improved through introducing asset bubbles. It brings a kind of interference on the control of asset bubbles. This article expands the 'AMSZ criterion' to analyze the dynamic efficiency of China economy and draws the main conclusion that the economic operation in China has been in a state of dynamic inefficiency from 1985 to 2007. However,it is undesirable to eliminate economic dynamic inefficiency by introducing bubbles. The right policy is to expand consumption demand on the basis of improving labor income.
出处
《金融评论》
2010年第5期103-113,共11页
Chinese Review of Financial Studies
基金
国家社科基金重大项目"扩大国内需求的宏观经济政策研究"(08&ZD034)
教育部人文社科重点基地重大项目"我国货币政策的区域经济效应研究"(08JJD790136)的阶段成果
关键词
AMSZ准则扩展
动态效率
资产泡沫
AMSZ Criterion's Expansion
Dynamic Efficiency
Asset Bubbles