后危机时代美国支出增减政策的交互影响机理

The interaction mechanism of the policy of the changes in the U.S. public spending at the post-crisis era

美国的货币政策与财政政策的交互关系在经济衰退时期呈现出扩张的财政政策引致扩张的货币政策,在经济企稳时期呈现出扩张的货币政策引起紧缩的财政政策。美国存在财政政策的非凯恩斯效应,所以一旦紧缩性的财政政策得以实施,将引致宽松货币政策效力的发挥。在后危机时代,这些宏观经济政策间非对称形式的相互作用机制将有利于美国的财政稳固和未来的经济复苏。

The interaction relationship between the U. S. monetary policy and fiscal policy suggests that expansive fiscal policy leads to expansive monetary policy in economic recession while expansive monetary policy leads to tight fiscal policy in the time of economic stability. Non - Keynesian effect in the U.S. fiscal policy whould lead to loose monetary policy once tight ileal policy takes effect. At the post - crisis era, the unsymmetrical interaction mechanism among these macro economic policies would benefit the fiscal stability of the U.S. as well as future economic recovery.