供给侧结构性改革与宏观经济政策协调

doi:10.16088/j.issn.1001-6597.2020.03.007

Abstract

Abstract: This paper, on the basis of clarifying the concept of supply-side structural reform and macroeconomic policy, discusses the specific measures of their coordination. Through a comparative analysis of the different effects of two supply-side structural reforms in Japan in 1970s and 1990s, it points out that the coordination of the two in 1990s are out of order, which further hinders the implementation of the structural reform. By employing the dynamic stochastic general equilibrium model, it is found that positive fiscal policy, stable monetary policy and strong forward-looking guidance of monetary policy will noticeably improve the macroeconomic operation environment and provide support for the implementation of supply-side structural reform, an lesson which China can learn from Japan to better carry out China’s supply-side reform.

Key words: Economy, Japan, supply-side structural reform, monetary policy, fiscal policy, dynamic stochastic general equilibrium model, Macroeconomic policy

CLC Number:

F045.51

TIAN Zheng, LI Xin. Supply-side Structural Reform and Macroeconomic Policy Coordination[J].Journal of Guangxi Teachers Education University (Philosophy and Social Sciences Edition), 2020, 56(3): 75-88.

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Supply-side Structural Reform and Macroeconomic Policy Coordination

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