|
|
|
| Keeping Alert to Deflation Risk and Improving the Macro Policies |
| FANG Xin
|
| Chengdu Branch, the People’s Bank of China |
|
|
|
|
Abstract Facing the deflation risk in China, we study the causes, including the descending period of economic cycle, high leverage ratio, dropping of asset prices, excess production capacity, the anticipation of depreciation on RMB, falling of international commodity prices. We also point out that to confront deflation risk, we should coordinate the relationship of management of demand and reform of supply, implement more positive fiscal policy and effective monetary policy, promote the constitutive innovation, and improve the international coordination of macro policies.
|
|
Received: 05 February 2016
Published: 01 January 1900
|
|
|
|
|
| [1] |
梅新育,2015,《输入型通缩对中国经济有利有弊》,《21世纪经济报道》10月16日。
|
| [2] |
王军, 2016,《2016年需高度重视防范化解全面通货紧缩风险》,《中国物价》第1期。
|
| [3] |
王军和刘向东,2015,《抓住大宗商品价格中长期低迷机遇重构中国全球能源资源战略》,《全球化》第6期。
|
| [4] |
殷剑峰,2015,《通货紧缩的成因与应对》,《中国金融》第6期。
|
| [5] |
张健华和贾彦东,2012,《宏观审慎政策的理论与实践进展》,《金融研究》第1期。
|
|
|
|
