美国财政政策历史实践及其对我国供给管理的若干启示

How to Realize the Effective Combination of Demand Management and Supply Management? : An Inspiration from the History of American Fiscal Policy

理论发展和政策实践表明,财政政策始终是美国政府干预宏观经济运行的重要手段,日益呈现出需求管理与供给管理并重的特点。需求管理根据宏观经济形势的需要进行扩张、紧缩或中性的短期运作,通过影响消费需求和投资需求使实际产出水平达到潜在产出水平;供给管理注重利用减税政策和税制改革刺激生产要素的供给,同时更加注重调整政府支出结构,带动对基础设施、人力资本和研发的投入,促进产业升级,改善经济结构,提高供给的能力和质量,从而在长期内提高经济的潜在产出水平。需求管理与供给管理有效结合的经验值得借鉴。当前,中国亟需创新财政政策的管理方式,需要通过坚持周期财政调控政策与产业结构调整政策协调配合、推进"结构性减税"不断改善税收结构、坚持财政政策与货币政策的有效配合来推动供给侧结构性改革。

Theory development and policy practice show that American fiscal policy is always the important means of government intervention in the operation of macro economy,and that fiscal policies in demand management and supply management are both important. In terms of demand management,the American government according to the needs of the macroeconomic situation,operates expansion,contraction or neutral fiscal policies in the short term,by their impacts on consumption and investment demands.In terms of supply management,the American government pays attention to use tax reduction policies and the tax system reform to stimulate the supply of production factors,pays more attention to adjust the structure of government expenditure at the same time,invest more in the infrastructure,human capital and R&D,promote industrial upgrading,improve the economic structure,increase the capacity and quality of supply,and thus improve the economy potential output level in the long term. The effective combination of demand management and supply management experience is worth learning. At present,China needs innovation of fiscal policy management,and should adhere to the coordination and cooperation of periodic financial policies and industrial structure policies,constantly push forward the structural tax cuts and improve the tax structure,adhere to the effective cooperation of fiscal policy and monetary policy to promote the supply side structural reforms.