通货紧缩下的宏观经济政策选择

Selecting of Macro Economic Policies in Deflation

近几年来 ,我国宏观经济运行中一般价格水平持续下降、经济增长速度持续下滑、货币投放速度放慢 ,这表明我国宏观经济已呈现出通货紧缩的特征。通货紧缩不仅遏制了需求 ,而且制约了供给 ;在总需求不足的情况下 ,通货紧缩无疑是给经济增长带来了更为严峻的压力。本文在研究通货紧缩的基本特征及形成原因的基础上 ,探讨了在我国当前的经济形势下如何合理地选择宏观经济政策、通过财政、货币政策的搭配与协调来治理通货紧缩 ,以促进我国国民经济的快速增长。

In recent years,chinese macro-economic operation has been experiencing a continuously declining of overall price level,a invariably downward trend of economic growth rate,and a slowdown of money supply,the combination of which signifies the existence of deflation.Not only does deflation restrain aggregate demand,but also impose a restriction on aggregate supply.In situation where the aggregate demand is insufficient,deflation can get economic growth under higher pressure.On the basis of examining the charateristics of and the cause resulting in deflation,this paper discusses the proper macro-economic policies,ones that combine and coordinate fiscal and monetary policies,to be chosen to alleviate deflation for a rapid growth of chinese national economy.